Intuit Inc. (NASDAQ:INTU) Stock Position Raised by Biltmore Family Office LLC

Biltmore Family Office LLC raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the second quarter, Holdings Channel reports. The firm owned 4,577 shares of the software maker’s stock after buying an additional 39 shares during the period. Biltmore Family Office LLC’s holdings in Intuit were worth $3,008,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $35,000. Sachetta LLC acquired a new position in shares of Intuit during the 4th quarter valued at about $39,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the 2nd quarter valued at about $39,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of Intuit 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 completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 directly owns 3,840 shares in the company, valued at $2,384,755.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,999 shares of company stock valued at $8,872,069. 2.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTU. Jefferies Financial Group increased 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. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, August 23rd. Finally, KeyCorp raised their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Performance

NASDAQ INTU opened at $633.62 on Wednesday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $177.60 billion, a P/E ratio of 58.45, a PEG ratio of 3.00 and a beta of 1.24. The company’s 50-day simple moving average is $637.49 and its 200 day simple moving average is $631.89.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business earned $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, research analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.