BayBridge Capital Group LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

BayBridge Capital Group LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,938 shares of the software maker’s stock after acquiring an additional 63 shares during the quarter. BayBridge Capital Group LLC’s holdings in Intuit were worth $1,218,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in Intuit during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the third quarter worth approximately $27,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit in the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Barclays decreased their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares in the company, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 293,014 shares of company stock valued at $188,992,187 over the last quarter. Insiders own 2.68% of the company’s stock.

Intuit Trading Down 1.9 %

NASDAQ:INTU opened at $578.85 on Friday. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. 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 company has a market cap of $162.03 billion, a PE ratio of 56.20, a P/E/G ratio of 2.96 and a beta of 1.25. The business’s 50 day moving average is $627.45 and its two-hundred day moving average is $632.08.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors 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 annualized dividend and a yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 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.