M&G Plc Purchases 1,542 Shares of Intuit Inc. (NASDAQ:INTU)

M&G Plc boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 4.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,648 shares of the software maker’s stock after buying an additional 1,542 shares during the quarter. M&G Plc’s holdings in Intuit were worth $24,078,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at about $25,000. West Branch Capital LLC increased its position in Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares during the period. MCF Advisors LLC raised its holdings in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in shares of Intuit in the 4th quarter worth approximately $38,000. Finally, Sachetta LLC acquired a new stake in shares of Intuit during the fourth quarter worth $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INTU. Wells Fargo & Company upped their price target on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Susquehanna cut their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $770.00 price target on shares of Intuit in a report on Thursday, June 13th. Finally, KeyCorp lifted their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $691.77.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $645.83 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a market cap of $180.54 billion, a PE ratio of 59.58, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The stock’s fifty day simple moving average is $627.44 and its two-hundred day simple moving average is $633.63. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter in the prior year, the company posted $7.80 earnings per share. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were issued a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the sale, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by insiders.

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.