GAMMA Investing LLC Has $2.38 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

GAMMA Investing LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 33.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,838 shares of the software maker's stock after acquiring an additional 968 shares during the period. GAMMA Investing LLC's holdings in Intuit were worth $2,383,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC grew its stake in Intuit by 134.7% during the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker's stock valued at $2,991,000 after acquiring an additional 2,641 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker's stock valued at $112,381,000 after buying an additional 1,990 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker's stock valued at $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Cetera Advisors LLC lifted its holdings in shares of Intuit by 33.4% during the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker's stock valued at $6,895,000 after buying an additional 2,655 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker's stock valued at $7,398,000 after buying an additional 1,328 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of INTU traded down $8.24 on Monday, reaching $602.43. 1,490,718 shares of the stock traded hands, compared to its average volume of 1,330,847. The firm has a market cap of $168.41 billion, a price-to-earnings ratio of 55.57, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock's 50-day moving average price is $632.84 and its 200-day moving average price is $629.49.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analysts' expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit's quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 earnings per share. Equities analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit's previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit's payout ratio is currently 38.38%.

Analysts Set New Price Targets

INTU has been the subject of several research reports. Barclays reduced their price target on Intuit from $745.00 to $740.00 and set an "overweight" rating for the company in a report on Friday, August 23rd. Citigroup boosted their target price on Intuit from $727.00 to $750.00 and gave the stock a "buy" rating in a report on Friday, June 28th. Jefferies Financial Group boosted their target price on Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Piper Sandler restated an "overweight" rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Susquehanna restated a "positive" rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $735.71.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the company's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,297 shares of company stock worth $32,750,926 over the last three months. Company insiders own 2.90% of the company's stock.

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.