Atomi Financial Group Inc. Lowers Position in Intuit Inc. (NASDAQ:INTU)

Atomi Financial Group Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,275 shares of the software maker’s stock after selling 46 shares during the period. Atomi Financial Group Inc.’s holdings in Intuit were worth $1,412,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.8 %

Shares of NASDAQ:INTU opened at $613.37 on Wednesday. The business has a 50-day moving average price of $632.16 and a 200 day moving average price of $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. The company has a market capitalization of $171.47 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. Sell-side analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The company 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. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Buying and Selling at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 0.00 % decrease in their position. 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 in the last three months. 2.90% of the stock is owned by corporate insiders.

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.