Tobam Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Tobam increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 25.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 606 shares of the software maker’s stock after buying an additional 123 shares during the quarter. Tobam’s holdings in Intuit were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit during the 2nd quarter worth about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on INTU. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. 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 price objective on the stock. Barclays reduced their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Finally, Citigroup boosted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

Shares of Intuit stock opened at $619.30 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The firm’s 50-day simple moving average is $631.19 and its 200-day simple moving average is $628.88. The firm has a market cap of $173.58 billion, a PE ratio of 59.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio is 34.45%.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,297 shares of company stock worth $32,750,926. 2.90% of the stock is currently owned by company insiders.

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.