Cvfg LLC Makes New $1.22 Million Investment in Intuit Inc. (NASDAQ:INTU)

Cvfg LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,939 shares of the software maker's stock, valued at approximately $1,219,000. Intuit comprises approximately 1.1% of Cvfg LLC's investment portfolio, making the stock its 24th biggest holding.

Several other institutional investors have also recently bought and sold shares of the business. Nordea Investment Management AB increased its holdings in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. boosted its position in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock valued at $22,295,000 after buying an additional 1,853 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock valued at $2,383,000 after buying an additional 968 shares during the period. Retireful LLC bought a new stake in shares of Intuit during the third quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit during the third quarter valued at $56,144,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction 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 $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm'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 transaction of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

INTU traded down $3.14 during trading on Friday, hitting $604.13. The stock had a trading volume of 2,830,783 shares, compared to its average volume of 1,733,225. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. The company has a 50 day moving average price of $647.69 and a 200-day moving average price of $637.39. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. 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 prior year, the company posted $1.14 earnings per share. Intuit's revenue was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit's dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INTU. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Wednesday. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $765.00 target price on shares of Intuit in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $726.53.

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.