Manchester Capital Management LLC Has $312,000 Stake in Intuit Inc. (NASDAQ:INTU)

Manchester Capital Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 479 shares of the software maker’s stock after acquiring an additional 34 shares during the period. Manchester Capital Management LLC’s holdings in Intuit were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Desjardins Global Asset Management Inc. lifted its holdings in Intuit by 1.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after purchasing an additional 16 shares during the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Intuit by 1.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after acquiring an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after acquiring an additional 16 shares during the period. GAM Holding AG boosted its holdings in Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares during the period. Finally, Janiczek Wealth Management LLC increased its holdings in shares of Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, insider Scott D. Cook sold 14,748 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. Insiders sold 195,963 shares of company stock valued at $114,442,445 over the last quarter. Insiders own 2.90% of the company’s stock.

Intuit Trading Up 1.6 %

NASDAQ:INTU traded up $10.28 during trading hours on Friday, hitting $639.69. 185,733 shares of the company were exchanged, compared to its average volume of 1,333,829. The stock has a market capitalization of $178.83 billion, a price-to-earnings ratio of 58.06, a price-to-earnings-growth ratio of 3.62 and a beta of 1.23. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a fifty day simple moving average of $623.32 and a 200 day simple moving average of $630.37. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.80 earnings per share. Sell-side analysts expect that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on INTU shares. UBS Group increased their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Bank of America dropped their target price on shares of Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Piper Sandler reiterated an “overweight” rating and set a $760.00 price target on shares of Intuit in a research report on Friday. Finally, Jefferies Financial Group restated a “buy” rating and set a $770.00 price objective on shares of Intuit in a research report on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $687.22.

Intuit Company 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.