Stokes Capital Advisors LLC Takes $3.58 Million Position in Intuit Inc. (NASDAQ:INTU)

Stokes Capital Advisors LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,444 shares of the software maker’s stock, valued at approximately $3,578,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the period. Wellington Management Group LLP increased its stake in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Intuit by 2.3% during the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after buying an additional 80,517 shares during the last quarter. Norges Bank purchased a new stake in shares of Intuit in the fourth quarter valued at about $2,101,848,000. Finally, Fisher Asset Management LLC grew its holdings in Intuit by 9.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after buying an additional 270,432 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $1.39 on Friday, hitting $653.53. The company’s stock had a trading volume of 765,779 shares, compared to its average volume of 1,317,588. The company has a market capitalization of $182.69 billion, a price-to-earnings ratio of 60.29, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock’s 50-day moving average is $631.87 and its two-hundred day moving average is $633.71.

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio is currently 33.21%.

Wall Street Analyst Weigh In

Several research firms have commented on INTU. UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Royal Bank of Canada initiated coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating and set a $770.00 price target on shares of Intuit in a research report on Thursday, June 13th. Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.77.

Insider Activity

In other news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares in the company, valued at approximately $525,380.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,963 shares of company stock worth $114,442,445. Insiders own 2.90% of the company’s stock.

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.