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Avantax Planning Partners Inc. Grows Position in Intuit Inc. (NASDAQ:INTU)

Defense World · Sep 26, 2022 08:31

Avantax Planning Partners Inc. lifted its stake in Intuit Inc. (NASDAQ:INTU – Get Rating) by 67.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,987 shares of the software maker's stock after buying an additional 1,208 shares during the quarter. Avantax Planning Partners Inc.'s holdings in Intuit were worth $1,151,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. San Luis Wealth Advisors LLC purchased a new position in shares of Intuit in the first quarter worth $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Intuit in the 4th quarter worth about $28,000. Activest Wealth Management purchased a new stake in shares of Intuit during the 1st quarter valued at about $29,000. Cornerstone Advisory LLC purchased a new stake in shares of Intuit during the 4th quarter valued at about $48,000. Finally, Motco purchased a new stake in shares of Intuit during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 83.31% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts have recently issued reports on INTU shares. CICC Research started coverage on shares of Intuit in a research report on Monday, September 19th. They set a "market perform" rating on the stock. KeyCorp upped their target price on shares of Intuit from $475.00 to $525.00 and gave the company an "overweight" rating in a research report on Wednesday, August 24th. Moffett Nathanson started coverage on shares of Intuit in a research report on Thursday. They set an "outperform" rating and a $500.00 target price on the stock. Oppenheimer upped their target price on shares of Intuit from $476.00 to $516.00 and gave the company an "outperform" rating in a research report on Wednesday, August 24th. Finally, Evercore ISI upped their price target on shares of Intuit from $500.00 to $601.00 and gave the company an "outperform" rating in a report on Wednesday, August 24th. Two equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $566.89.

Insider Activity at Intuit

In related news, CFO Michelle M. Clatterbuck sold 6,768 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the completion of the sale, the chief financial officer now owns 1,350 shares of the company's stock, valued at $607,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Michelle M. Clatterbuck sold 6,768 shares of the stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the completion of the sale, the chief financial officer now owns 1,350 shares of the company's stock, valued at $607,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 60,208 shares of the company's stock, valued at approximately $27,888,947.68. The disclosure for this sale can be found here. Insiders sold 39,318 shares of company stock valued at $18,027,628 over the last 90 days. Insiders own 3.27% of the company's stock.

Intuit Price Performance

NASDAQ INTU opened at $393.97 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 1.39. The firm's 50 day moving average price is $442.41 and its 200-day moving average price is $428.43. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $716.86. The company has a market cap of $111.05 billion, a PE ratio of 54.34, a P/E/G ratio of 2.70 and a beta of 1.19.

Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings data on Tuesday, August 23rd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the prior year, the firm earned $1.28 EPS. Sell-side analysts forecast that Intuit Inc. will post 9.13 EPS 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 dividend of $0.78 per share. This is a boost from Intuit's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $3.12 dividend on an annualized basis and a yield of 0.79%. Intuit's dividend payout ratio is presently 37.52%.

Intuit Company 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.