Capital Planning Advisors LLC Acquires 244 Shares of Intuit Inc. (NASDAQ:INTU)

Capital Planning Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,413 shares of the software maker’s stock after purchasing an additional 244 shares during the quarter. Capital Planning Advisors LLC’s holdings in Intuit were worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Whalen Wealth Management Inc. bought a new position in shares of Intuit in the fourth quarter valued at approximately $621,000. Avior Wealth Management LLC raised its holdings in Intuit by 227.9% in the 4th quarter. Avior Wealth Management LLC now owns 564 shares of the software maker’s stock worth $355,000 after acquiring an additional 392 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in Intuit by 3.8% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock worth $27,223,000 after acquiring an additional 1,602 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in Intuit by 7.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 393 shares of the software maker’s stock valued at $247,000 after acquiring an additional 28 shares during the period. Finally, Mutual Advisors LLC grew its position in shares of Intuit by 4.6% in the fourth quarter. Mutual Advisors LLC now owns 2,813 shares of the software maker’s stock valued at $1,708,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research note on Friday, January 10th. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Finally, Barclays reduced their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Price Performance

NASDAQ INTU opened at $611.68 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The business has a 50 day simple moving average of $640.53 and a 200 day simple moving average of $635.79. The stock has a market cap of $171.22 billion, a price-to-earnings ratio of 59.39, a PEG ratio of 3.00 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued 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 business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business posted $1.14 earnings per share. Analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now owns 1,944 shares in the company, valued at $1,221,804. This represents a 5.31 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last ninety days. 2.68% of the stock is currently owned by corporate 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.