Heritage Investors Management Corp Buys Shares of 1,660 Intuit Inc. (NASDAQ:INTU)

Heritage Investors Management Corp bought a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,660 shares of the software maker’s stock, valued at approximately $1,038,000.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Hills Bank & Trust Co grew its position in Intuit by 4.3% in the fourth quarter. Hills Bank & Trust Co now owns 611 shares of the software maker’s stock worth $382,000 after buying an additional 25 shares during the last quarter. Outfitter Financial LLC grew its holdings in shares of Intuit by 2.5% in the 4th quarter. Outfitter Financial LLC now owns 4,087 shares of the software maker’s stock worth $2,554,000 after acquiring an additional 100 shares during the last quarter. Breed s Hill Capital LLC acquired a new position in shares of Intuit in the 4th quarter worth $390,000. Wealthspire Advisors LLC raised its position in shares of Intuit by 3.3% during the fourth quarter. Wealthspire Advisors LLC now owns 2,476 shares of the software maker’s stock worth $1,548,000 after purchasing an additional 79 shares during the period. Finally, Catalyst Financial Partners LLC lifted its holdings in shares of Intuit by 12.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 880 shares of the software maker’s stock valued at $550,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock traded down $5.57 during trading hours on Thursday, reaching $626.86. 1,292,678 shares of the company were exchanged, compared to its average volume of 1,228,763. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a market cap of $175.52 billion, a price-to-earnings ratio of 63.97, a PEG ratio of 3.83 and a beta of 1.22. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $635.87 and a 200 day moving average of $608.61.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. Intuit’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. As a group, research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Analysts Set New Price Targets

Several brokerages have commented on INTU. Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company raised their price objective on Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Finally, Piper Sandler upped their target price on Intuit from $642.00 to $750.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $650.23.

Insider Activity

In other news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the transaction, the executive vice president now owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the transaction, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is 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.