Empirical Financial Services LLC d.b.a. Empirical Wealth Management Has $1.37 Million Stake in Intuit Inc. (NASDAQ:INTU)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management decreased its position in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 5.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,853 shares of the software maker’s stock after selling 158 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Intuit were worth $1,372,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of INTU. Qube Research & Technologies Ltd acquired a new stake in shares of Intuit during the 4th quarter valued at $28,280,000. abrdn plc boosted its holdings in shares of Intuit by 5.5% during the 4th quarter. abrdn plc now owns 180,974 shares of the software maker’s stock valued at $116,406,000 after acquiring an additional 9,369 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Intuit during the 4th quarter valued at $26,000. Pittenger & Anderson Inc. boosted its holdings in shares of Intuit by 821.7% during the 4th quarter. Pittenger & Anderson Inc. now owns 4,378 shares of the software maker’s stock valued at $2,816,000 after acquiring an additional 3,903 shares in the last quarter. Finally, Confluence Wealth Services Inc. acquired a new stake in shares of Intuit during the 4th quarter valued at $105,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $439.04 on Friday. Intuit Inc. has a one year low of $339.36 and a one year high of $716.86. The firm has a market capitalization of $123.75 billion, a price-to-earnings ratio of 60.56, a PEG ratio of 3.07 and a beta of 1.19. The business has a 50-day simple moving average of $436.14 and a 200 day simple moving average of $432.48. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.39 and a quick ratio of 1.63.

Intuit (NASDAQ:INTUGet Rating) last issued its earnings results on Tuesday, August 23rd. The software maker reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same period last year, the business posted $1.28 earnings per share. On average, research analysts anticipate that Intuit Inc. will post 8.88 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 0.71%. This is a positive change from Intuit’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, October 6th. Intuit’s payout ratio is presently 37.52%.

Insider Activity at Intuit

In related news, Director Raul Vazquez sold 1,790 shares of Intuit stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $390.37, for a total transaction of $698,762.30. Following the transaction, the director now owns 2,019 shares of the company’s stock, valued at $788,157.03. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Raul Vazquez sold 1,790 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $390.37, for a total transaction of $698,762.30. Following the transaction, the director now directly owns 2,019 shares of the company’s stock, valued at $788,157.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $463.21, for a total transaction of $10,306,422.50. Following the transaction, the chief executive officer now directly owns 60,208 shares in the company, valued at $27,888,947.68. The disclosure for this sale can be found here. Insiders sold 36,902 shares of company stock valued at $16,251,640 in the last three months. Corporate insiders own 3.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on INTU shares. Stifel Nicolaus lifted their target price on Intuit from $465.00 to $525.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Evercore ISI lifted their target price on Intuit from $500.00 to $601.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. William Blair reaffirmed an “outperform” rating on shares of Intuit in a report on Wednesday, May 25th. Credit Suisse Group cut their target price on Intuit from $600.00 to $500.00 and set an “outperform” rating on the stock in a report on Wednesday, May 25th. Finally, BMO Capital Markets lifted their target price on Intuit from $475.00 to $533.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. One research analyst has rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $570.61.

Intuit Profile

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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