Sivia Capital Partners LLC Grows Position in Intuit Inc. (NASDAQ:INTU)

Sivia Capital Partners LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 8.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 577 shares of the software maker’s stock after purchasing an additional 45 shares during the quarter. Sivia Capital Partners LLC’s holdings in Intuit were worth $375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Glenmede Trust Co. NA grew its stake in Intuit by 12.7% during the third quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock worth $9,400,000 after buying an additional 2,074 shares during the period. Advisors Asset Management Inc. grew its stake in Intuit by 31.9% during the third quarter. Advisors Asset Management Inc. now owns 13,179 shares of the software maker’s stock worth $6,734,000 after buying an additional 3,185 shares during the period. Axxcess Wealth Management LLC grew its stake in Intuit by 53.1% during the third quarter. Axxcess Wealth Management LLC now owns 10,334 shares of the software maker’s stock worth $5,280,000 after buying an additional 3,586 shares during the period. AXQ Capital LP purchased a new stake in Intuit during the third quarter worth approximately $1,073,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Intuit by 13.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 318,400 shares of the software maker’s stock worth $162,683,000 after purchasing an additional 38,900 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

INTU stock traded up $2.55 during trading on Wednesday, hitting $658.77. 441,620 shares of the company’s stock traded hands, compared to its average volume of 1,339,565. The stock has a market capitalization of $184.16 billion, a price-to-earnings ratio of 60.96, a price-to-earnings-growth ratio of 3.76 and a beta of 1.23. The stock has a fifty day moving average price of $619.94 and a two-hundred day moving average price of $628.97. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. Intuit’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $7.80 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. BMO Capital Markets reissued an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Citigroup boosted their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Piper Sandler boosted their target price on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, UBS Group boosted their target price on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $687.22.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock worth $113,123,232 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

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.