Aljian Capital Management LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Aljian Capital Management LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,149 shares of the software maker’s stock after acquiring an additional 101 shares during the quarter. Intuit comprises 0.8% of Aljian Capital Management LLC’s investment portfolio, making the stock its 19th biggest position. Aljian Capital Management LLC’s holdings in Intuit were worth $3,865,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit during the fourth quarter worth approximately $621,000. Harvest Portfolios Group Inc. boosted its stake in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the last quarter. Retireful LLC purchased a new stake in Intuit in the 3rd quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Intuit in the 3rd quarter valued at $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. Piper Sandler reaffirmed an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Finally, Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $726.53.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by company insiders.

Intuit Stock Down 1.6 %

Shares of NASDAQ:INTU opened at $576.54 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average price is $622.69 and its 200 day moving average price is $630.67. The stock has a market cap of $161.39 billion, a price-to-earnings ratio of 55.97, a price-to-earnings-growth ratio of 2.91 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.72%. Intuit’s dividend payout ratio is presently 40.39%.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.