Private Advisor Group LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 23.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,846 shares of the software maker's stock after selling 3,389 shares during the period. Private Advisor Group LLC's holdings in Intuit were worth $4,181,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of INTU. Castleview Partners LLC acquired a new position in Intuit in the 4th quarter valued at $25,000. San Luis Wealth Advisors LLC purchased a new stake in shares of Intuit during the 1st quarter valued at $26,000. Comprehensive Financial Consultants Institutional Inc. purchased a new stake in shares of Intuit during the 4th quarter valued at $28,000. Activest Wealth Management purchased a new stake in shares of Intuit during the 1st quarter valued at $29,000. Finally, Motco purchased a new stake in shares of Intuit during the 1st quarter valued at $45,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.
Get Intuit alerts:Intuit Price Performance
NASDAQ INTU opened at $393.97 on Monday. Intuit Inc. has a 52 week low of $339.36 and a 52 week high of $716.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock has a market cap of $111.05 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 2.70 and a beta of 1.19. The company has a 50-day moving average price of $442.41 and a two-hundred day moving average price of $428.43.
Intuit (NASDAQ:INTU – Get Rating) last posted its earnings results on Tuesday, August 23rd. The software maker reported $1.10 EPS for the quarter, topping the consensus estimate of $0.98 by $0.12. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same period in the previous year, the business posted $1.28 earnings per share. Analysts forecast that Intuit Inc. will post 9.13 EPS for the current year.Intuit Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be issued a $0.78 dividend. The ex-dividend date of this dividend is Thursday, October 6th. This is a boost from Intuit's previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a dividend yield of 0.79%. Intuit's dividend payout ratio (DPR) is 37.52%.
Analysts Set New Price Targets
Several brokerages have recently issued reports on INTU. KeyCorp boosted their price objective on shares of Intuit from $475.00 to $525.00 and gave the company an "overweight" rating in a research note on Wednesday, August 24th. Moffett Nathanson initiated coverage on shares of Intuit in a research report on Thursday. They set an "outperform" rating and a $500.00 price target for the company. Barclays upped their price target on shares of Intuit from $580.00 to $585.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 24th. Stifel Nicolaus upped their price target on shares of Intuit from $465.00 to $525.00 and gave the stock a "buy" rating in a research report on Thursday, August 18th. Finally, Piper Sandler upped their price target on shares of Intuit from $500.00 to $553.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $566.89.
Insider Activity
In other news, EVP James Alexander Chriss sold 1,071 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.09, for a total value of $494,898.39. Following the completion of the transaction, the executive vice president now directly owns 1,003 shares in the company, valued at $463,476.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Michelle M. Clatterbuck sold 1,791 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.12, for a total transaction of $827,656.92. Following the completion of the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at $623,862. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP James Alexander Chriss sold 1,071 shares of the firm's stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $462.09, for a total transaction of $494,898.39. Following the sale, the executive vice president now owns 1,003 shares of the company's stock, valued at $463,476.27. The disclosure for this sale can be found here. Insiders sold 39,318 shares of company stock worth $18,027,628 over the last three months. Corporate insiders own 3.27% of the company's stock.
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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