Davidson Investment Advisors raised its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,329 shares of the software maker’s stock after purchasing an additional 44 shares during the period. Davidson Investment Advisors’ holdings in Intuit were worth $16,645,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Aspire Private Capital LLC purchased a new position in shares of Intuit in the 1st quarter worth $12,037,410,000. HHM Wealth Advisors LLC purchased a new position in shares of Intuit in the 1st quarter worth $25,000. Raleigh Capital Management Inc. boosted its stake in shares of Intuit by 100.0% in the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock worth $26,000 after buying an additional 29 shares during the last quarter. Barrett & Company Inc. purchased a new position in shares of Intuit in the 1st quarter worth $29,000. Finally, WealthPLAN Partners LLC purchased a new position in shares of Intuit in the 1st quarter worth $34,000. 82.63% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
INTU has been the topic of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $642.00 price target on shares of Intuit in a research note on Friday, September 29th. UBS Group raised their target price on Intuit from $520.00 to $540.00 and gave the stock a “neutral” rating in a report on Friday, August 25th. StockNews.com assumed coverage on Intuit in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Barclays raised their target price on Intuit from $495.00 to $570.00 and gave the stock an “overweight” rating in a report on Friday, August 18th. Finally, Wolfe Research raised their target price on Intuit from $600.00 to $660.00 and gave the stock an “outperform” rating in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $567.41.
Intuit Trading Up 0.8 %
Shares of Intuit stock traded up $4.57 on Monday, hitting $564.73. 394,451 shares of the company traded hands, compared to its average volume of 1,572,926. The stock’s 50 day moving average price is $521.01 and its 200-day moving average price is $489.03. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 52 week low of $370.62 and a 52 week high of $567.03. The company has a market cap of $158.29 billion, a PE ratio of 66.37, a PEG ratio of 3.37 and a beta of 1.20.
Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.64 billion. Intuit had a net margin of 16.59% and a return on equity of 16.61%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Equities research analysts predict that Intuit Inc. will post 11.25 EPS for the current year.
Intuit Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Monday, October 9th were paid a $0.90 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, October 5th. This represents a $3.60 dividend on an annualized basis and a yield of 0.64%. Intuit’s payout ratio is 42.65%.
Insider Transactions at Intuit
In other news, CFO Sandeep Aujla sold 10,732 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the transaction, the chief financial officer now directly owns 235 shares of the company’s stock, valued at $124,787.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Sandeep Aujla sold 10,732 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $531.01, for a total transaction of $5,698,799.32. Following the transaction, the chief financial officer now directly owns 235 shares of the company’s stock, valued at $124,787.35. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Raul Vazquez sold 1,938 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $516.52, for a total value of $1,001,015.76. Following the transaction, the director now directly owns 1,631 shares in the company, valued at $842,444.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,073 shares of company stock valued at $22,091,651. Corporate insiders own 3.18% of the company’s stock.
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.
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