Vaughan David Investments LLC IL Takes $202,000 Position in Intuit Inc. (NASDAQ:INTU)

Vaughan David Investments LLC IL acquired a new position in Intuit Inc. (NASDAQ:INTU) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 308 shares of the software maker’s stock, valued at approximately $202,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Intuit during the fourth quarter valued at about $2,101,848,000. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new position in shares of Intuit in the 4th quarter worth approximately $467,852,000. Parnassus Investments LLC raised its stake in shares of Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares in the last quarter. Finally, Capital World Investors lifted its position in Intuit by 54.7% during the fourth quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after acquiring an additional 416,099 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $643.92 on Thursday. The stock has a market cap of $180.01 billion, a PE ratio of 59.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The business has a 50-day simple moving average of $637.17 and a 200-day simple moving average of $631.98. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. On average, equities analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup upped 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. Stifel Nicolaus upped their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. KeyCorp raised their price target on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Piper Sandler restated an “overweight” rating and set a $768.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. Finally, BMO Capital Markets increased their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

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.