Lafayette Investments Inc. Purchases Shares of 330 Intuit Inc. (NASDAQ:INTU)

Lafayette Investments Inc. purchased a new stake in Intuit Inc. (NASDAQ:INTU) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 330 shares of the software maker’s stock, valued at approximately $206,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Grunden Financial Advisory Inc. purchased a new stake in shares of Intuit during the 4th quarter worth about $309,000. Fidelis Capital Partners LLC boosted its stake in shares of Intuit by 12.8% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,611 shares of the software maker’s stock worth $1,007,000 after acquiring an additional 183 shares in the last quarter. Western Wealth Management LLC boosted its stake in shares of Intuit by 39.4% during the 4th quarter. Western Wealth Management LLC now owns 548 shares of the software maker’s stock worth $343,000 after acquiring an additional 155 shares in the last quarter. Family Capital Management Inc. purchased a new stake in shares of Intuit during the 4th quarter worth about $239,000. Finally, Ninety One SA PTY Ltd boosted its stake in shares of Intuit by 8.6% during the 4th quarter. Ninety One SA PTY Ltd now owns 8,671 shares of the software maker’s stock worth $5,420,000 after acquiring an additional 689 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,717 shares of company stock worth $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on INTU shares. Piper Sandler increased their target price on shares of Intuit from $642.00 to $750.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Susquehanna raised their price target on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. KeyCorp raised their price target on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Mizuho raised their price target on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Stifel Nicolaus raised their price target on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Stock Down 0.6 %

Shares of NASDAQ:INTU traded down $3.49 during trading on Friday, hitting $604.89. The company’s stock had a trading volume of 319,146 shares, compared to its average volume of 1,231,122. The business has a 50 day moving average price of $643.99 and a two-hundred day moving average price of $598.45. The company has a market capitalization of $169.37 billion, a PE ratio of 61.81, a P/E/G ratio of 3.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, research analysts expect that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s payout ratio is currently 36.73%.

About Intuit

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.