Talbot Financial LLC Buys 78 Shares of Intuit Inc. (NASDAQ:INTU)

Talbot Financial LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,431 shares of the software maker’s stock after acquiring an additional 78 shares during the period. Intuit makes up about 2.5% of Talbot Financial LLC’s portfolio, making the stock its 7th biggest holding. Talbot Financial LLC’s holdings in Intuit were worth $20,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC boosted its stake in shares of Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Intuit by 1.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares during the last quarter. Finally, Cetera Advisors LLC increased its holdings in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on INTU shares. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Piper Sandler restated an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America lifted their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Performance

INTU opened at $613.37 on Wednesday. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a market cap of $171.47 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 3.13 and a beta of 1.24. The company’s fifty day moving average price is $632.16 and its two-hundred 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 posted 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. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. On average, analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,297 shares of company stock worth $32,750,926. Corporate insiders own 2.90% of the company’s stock.

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.