GHP Investment Advisors Inc. Has $10.31 Million Stake in Intuit Inc. (NASDAQ:INTU)

GHP Investment Advisors Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,792 shares of the software maker’s stock after selling 23 shares during the period. GHP Investment Advisors Inc.’s holdings in Intuit were worth $10,310,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Copia Wealth Management bought a new stake in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares during the period. Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $762.55 on Tuesday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The stock’s 50 day moving average is $686.27 and its 200-day moving average is $635.14. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $212.71 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.39 and a beta of 1.28.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the business posted $9.88 EPS. Intuit’s quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Analyst Ratings Changes

Several analysts recently commented on INTU shares. Piper Sandler reiterated an “overweight” rating and issued a $825.00 target price (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a “buy” rating in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. Finally, Bank of America boosted their target price on shares of Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $787.95.

Insider Activity

In related news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,158 shares of company stock worth $202,989,194 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

About Intuit

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.