Mogy Joel R Investment Counsel Inc. Buys 414 Shares of Intuit Inc. (NASDAQ:INTU)

Mogy Joel R Investment Counsel Inc. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 71,986 shares of the software maker’s stock after acquiring an additional 414 shares during the quarter. Intuit makes up approximately 2.7% of Mogy Joel R Investment Counsel Inc.’s holdings, making the stock its 13th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Intuit were worth $45,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at about $27,000. Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the fourth quarter valued at approximately $29,000. Denver PWM LLC bought a new stake in shares of Intuit in the 3rd quarter worth approximately $32,000. Dunhill Financial LLC grew its stake in shares of Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in Intuit during the 2nd quarter valued at approximately $49,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

NASDAQ INTU opened at $604.13 on Tuesday. The business’s fifty day moving average is $644.23 and its 200 day moving average is $636.37. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $169.11 billion, a PE ratio of 58.65, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s payout ratio is 40.39%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Oppenheimer lifted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Piper Sandler reissued an “overweight” rating and set a $765.00 price target on shares of Intuit in a research report on Friday, January 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Finally, BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock worth $188,992,187 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

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.