Intuit Inc. (NASDAQ:INTU) Shares Sold by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. lowered its position in Intuit Inc. (NASDAQ:INTU) by 5.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,339 shares of the software maker’s stock after selling 72 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in Intuit were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of INTU. Amalgamated Bank increased its holdings in shares of Intuit by 7.2% in the third quarter. Amalgamated Bank now owns 63,974 shares of the software maker’s stock valued at $39,728,000 after purchasing an additional 4,289 shares during the last quarter. Sentry Investment Management LLC raised its holdings in shares of Intuit by 11.6% during the 3rd quarter. Sentry Investment Management LLC now owns 1,360 shares of the software maker’s stock worth $845,000 after acquiring an additional 141 shares during the period. Stoneridge Investment Partners LLC boosted its position in shares of Intuit by 6.0% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 1,294 shares of the software maker’s stock valued at $804,000 after acquiring an additional 73 shares during the last quarter. FSM Wealth Advisors LLC grew its holdings in shares of Intuit by 2.9% in the third quarter. FSM Wealth Advisors LLC now owns 2,589 shares of the software maker’s stock valued at $1,608,000 after purchasing an additional 72 shares during the period. Finally, Moloney Securities Asset Management LLC increased its position in Intuit by 12.5% during the third quarter. Moloney Securities Asset Management LLC now owns 2,697 shares of the software maker’s stock worth $1,675,000 after purchasing an additional 300 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus increased their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Down 0.4 %

NASDAQ INTU opened at $619.01 on Tuesday. Intuit Inc. has a one year low of $494.35 and a one year high of $676.62. The firm has a 50 day simple moving average of $622.95 and a 200-day simple moving average of $626.71. The firm has a market cap of $173.50 billion, a price-to-earnings ratio of 59.24, a PEG ratio of 3.04 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

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.