Jacobs & Co. CA Has $8.39 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Jacobs & Co. CA grew its position in Intuit Inc. (NASDAQ:INTU) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,348 shares of the software maker’s stock after purchasing an additional 359 shares during the period. Jacobs & Co. CA’s holdings in Intuit were worth $8,389,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. increased its holdings in Intuit by 2.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 3,353 shares of the software maker’s stock worth $2,107,000 after buying an additional 76 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Intuit by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,600 shares of the software maker’s stock worth $18,382,000 after purchasing an additional 293 shares during the period. ORG Partners LLC boosted its position in Intuit by 61.2% during the fourth quarter. ORG Partners LLC now owns 224 shares of the software maker’s stock worth $141,000 after purchasing an additional 85 shares during the period. First Hawaiian Bank boosted its position in Intuit by 4.8% during the fourth quarter. First Hawaiian Bank now owns 7,645 shares of the software maker’s stock worth $4,805,000 after purchasing an additional 347 shares during the period. Finally, Douglas Lane & Associates LLC boosted its position in Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after purchasing an additional 12,916 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.2 %

INTU stock traded down $1.10 during trading on Friday, hitting $623.91. 1,158,128 shares of the stock traded hands, compared to its average volume of 1,136,654. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The firm’s 50 day moving average is $649.55 and its two-hundred day moving average is $638.16. The stock has a market cap of $174.64 billion, a price-to-earnings ratio of 60.57, a price-to-earnings-growth ratio of 3.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company also recently announced 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. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s payout ratio is 40.39%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Piper Sandler reiterated an “overweight” rating and set a $765.00 target price on shares of Intuit in a research report on Friday. Jefferies Financial Group boosted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley boosted their price target 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. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. This trade represents a 97.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,636 shares of company stock worth $187,510,258. Company insiders own 2.68% of the company’s stock.

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.