Intuit Inc. (NASDAQ:INTU) Shares Bought by Barlow Wealth Partners Inc.

by · The Cerbat Gem

Barlow Wealth Partners Inc. grew its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,444 shares of the software maker’s stock after purchasing an additional 139 shares during the period. Barlow Wealth Partners Inc.’s holdings in Intuit were worth $10,887,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Intuit during the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC boosted its position in Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after purchasing an additional 771,232 shares during the period. Wellington Management Group LLP increased its position in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment increased its position in shares of Intuit by 50.0% in the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker’s stock valued at $942,750,000 after buying an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $773.70 on Thursday. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The stock has a market cap of $215.82 billion, a PE ratio of 62.80, a P/E/G ratio of 3.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a 50 day moving average price of $712.39 and a 200 day moving average price of $640.96.

Intuit (NASDAQ:INTU – Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period in the prior year, the business earned $9.88 EPS. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on INTU shares. Susquehanna reiterated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI increased their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Piper Sandler reiterated an “overweight” rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $793.05.

View Our Latest Research Report on INTU

Insider Activity at Intuit

In other news, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the sale, the executive vice president owned 40,767 shares of the company’s stock, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president owned 23,101 shares in the company, valued at $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,896 shares of company stock valued at $204,351,942 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

About Intuit

(Free Report)

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.

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