Cvfg LLC Acquires Shares of 1,939 Intuit Inc. (NASDAQ:INTU)

Cvfg LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,939 shares of the software maker’s stock, valued at approximately $1,219,000. Intuit accounts for about 1.1% of Cvfg LLC’s holdings, making the stock its 24th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter worth about $27,000. Denver PWM LLC acquired a new position in Intuit during the 3rd quarter valued at about $32,000. Dunhill Financial LLC boosted its stake in shares of Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. Groupama Asset Managment grew its position in shares of Intuit by 10.6% during the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Intuit during the second quarter worth approximately $49,000. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is owned by corporate insiders.

Intuit Price Performance

Shares of NASDAQ INTU opened at $607.29 on Friday. The company has a fifty day moving average price of $649.03 and a 200 day moving average price of $637.60. The firm has a market cap of $169.99 billion, a PE ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on INTU shares. Stifel Nicolaus reduced their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday. Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler restated 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. upped 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 assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

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.