Arthur M. Cohen & Associates LLC Takes $203,000 Position in Intuit Inc. (NASDAQ:INTU)

Arthur M. Cohen & Associates LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 323 shares of the software maker’s stock, valued at approximately $203,000.

Several other institutional investors and hedge funds have also bought and sold shares of INTU. State Street Corp boosted its stake in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the period. Geode Capital Management LLC raised its holdings in Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after buying an additional 80,463 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock valued at $2,376,984,000 after buying an additional 107,482 shares during the last quarter. Legal & General Group Plc boosted its position in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on INTU shares. Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and issued a $765.00 price objective on shares of Intuit in a research report on Friday, January 10th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Barclays cut their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $604.13 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $169.11 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. The business’s 50 day moving average price is $647.69 and its 200-day moving average price is $637.39. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Intuit 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.