Benjamin F. Edwards & Company Inc. Has $32.65 Million Position in Intuit Inc. (NASDAQ:INTU)

Benjamin F. Edwards & Company Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,681 shares of the software maker’s stock after purchasing an additional 1,047 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Intuit were worth $32,651,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Aveo Capital Partners LLC bought a new stake in shares of Intuit in the fourth quarter valued at about $203,000. 9258 Wealth Management LLC lifted its stake in shares of Intuit by 29.0% in the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after buying an additional 146 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock valued at $1,022,000 after buying an additional 393 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Intuit by 22.1% in the fourth quarter. D.A. Davidson & CO. now owns 8,279 shares of the software maker’s stock valued at $5,175,000 after buying an additional 1,498 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after buying an additional 16 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. Insiders have sold 22,389 shares of company stock worth $14,231,188 over the last ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research reports. Jefferies Financial Group increased their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Susquehanna restated a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and set a $768.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Finally, Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Up 3.3 %

INTU opened at $654.24 on Friday. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $182.89 billion, a P/E ratio of 60.35, a P/E/G ratio of 3.14 and a beta of 1.24. The stock has a fifty day moving average of $636.76 and a 200-day moving average of $631.46.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. 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 earned $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is 38.38%.

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.