Tidemark LLC Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

Tidemark LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5,777.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,293 shares of the software maker's stock after purchasing an additional 1,271 shares during the quarter. Tidemark LLC's holdings in Intuit were worth $803,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. LMR Partners LLP acquired a new stake in Intuit during the 3rd quarter worth about $8,317,000. Quest Partners LLC raised its holdings in shares of Intuit by 203.7% during the third quarter. Quest Partners LLC now owns 1,652 shares of the software maker's stock worth $1,026,000 after purchasing an additional 1,108 shares during the last quarter. Aljian Capital Management LLC raised its position in Intuit by 1.3% during the third quarter. Aljian Capital Management LLC now owns 6,048 shares of the software maker's stock valued at $3,756,000 after acquiring an additional 75 shares in the last quarter. Westfuller Advisors LLC purchased a new position in shares of Intuit during the 3rd quarter valued at approximately $207,000. Finally, Thrivent Financial for Lutherans increased its stake in shares of Intuit by 2.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker's stock valued at $9,149,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company's stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eve B. Burton sold 2,988 shares of the firm's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $9.06 during trading on Monday, reaching $678.81. The stock had a trading volume of 1,564,304 shares, compared to its average volume of 1,336,759. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The firm's 50 day moving average price is $633.08 and its two-hundred day moving average price is $630.19. The stock has a market cap of $190.26 billion, a PE ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. On average, research analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date was 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 yield of 0.61%. Intuit's dividend payout ratio (DPR) is presently 39.81%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Jefferies Financial Group lifted their target price on shares of Intuit from $770.00 to $790.00 and gave the company a "buy" rating in a report on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research report on Friday, August 23rd. Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, Piper Sandler reiterated an "overweight" rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $739.24.

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.