Intuit Inc. (NASDAQ:INTU) Shares Sold by Clean Yield Group

Clean Yield Group lowered its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,469 shares of the software maker’s stock after selling 98 shares during the quarter. Clean Yield Group’s holdings in Intuit were worth $2,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. Fortitude Family Office LLC grew its holdings in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC raised its stake in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock worth $429,000 after purchasing an additional 17 shares during the period. Finally, Stonebrook Private Inc. boosted its position in Intuit by 4.5% in the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Up 0.7 %

INTU stock opened at $606.42 on Tuesday. The business’s 50-day moving average is $632.84 and its 200 day moving average is $629.49. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The stock has a market cap of $169.52 billion, a price-to-earnings ratio of 55.57, a PEG ratio of 3.13 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued 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. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 38.38%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,297 shares of company stock worth $32,750,926 in the last quarter. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

About Intuit

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.