Intuit Inc. (NASDAQ:INTU) Shares Sold by Mather Group LLC.

Mather Group LLC. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,840 shares of the software maker’s stock after selling 158 shares during the quarter. Mather Group LLC.’s holdings in Intuit were worth $1,764,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the second quarter worth about $26,000. Hobbs Group Advisors LLC acquired a new stake in Intuit during the second quarter worth about $35,000. Finally, Trifecta Capital Advisors LLC raised its position in Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after acquiring an additional 35 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on INTU. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

NASDAQ:INTU opened at $613.37 on Wednesday. The company has a market cap of $171.47 billion, a P/E ratio of 56.58, a P/E/G ratio of 3.13 and a beta of 1.24. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company’s 50-day moving average price is $632.16 and its 200-day moving average price is $629.14. 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 released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, sell-side analysts forecast that Intuit Inc. will post 14.07 earnings per share 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 given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 38.38%.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 775 shares of the company’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 value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,297 shares of company stock valued at $32,750,926 over the last 90 days. 2.90% of the stock is owned by company insiders.

Intuit 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.