Schear Investment Advisers LLC Buys 151 Shares of Intuit Inc. (NASDAQ:INTU)

Schear Investment Advisers LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 8.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,917 shares of the software maker’s stock after buying an additional 151 shares during the quarter. Schear Investment Advisers LLC’s holdings in Intuit were worth $1,205,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INTU. Carnegie Investment Counsel raised its stake in shares of Intuit by 5.3% in the third quarter. Carnegie Investment Counsel now owns 591 shares of the software maker’s stock worth $367,000 after purchasing an additional 30 shares during the last quarter. Koshinski Asset Management Inc. raised its position in Intuit by 8.5% in the 3rd quarter. Koshinski Asset Management Inc. now owns 974 shares of the software maker’s stock worth $605,000 after buying an additional 76 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Intuit by 21.4% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 397 shares of the software maker’s stock valued at $247,000 after acquiring an additional 70 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Intuit by 8.1% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,237 shares of the software maker’s stock worth $769,000 after acquiring an additional 93 shares during the period. Finally, Fiduciary Alliance LLC purchased a new position in shares of Intuit during the third quarter valued at approximately $258,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $765.00 target price on shares of Intuit in a research report on Friday, January 10th. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Down 0.2 %

NASDAQ INTU opened at $585.88 on Wednesday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $164.00 billion, a PE ratio of 56.88, a P/E/G ratio of 2.91 and a beta of 1.24. The stock’s 50 day moving average is $625.25 and its 200 day moving average is $631.39.

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. The firm had revenue of $3.28 billion for 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 company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 earnings per share. Research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the transaction, the chief executive officer now owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by corporate insiders.

About Intuit

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.