Intuit Inc. (NASDAQ:INTU) Shares Sold by Blair William & Co. IL

Blair William & Co. IL trimmed its position in Intuit Inc. (NASDAQ:INTU) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 424,905 shares of the software maker’s stock after selling 4,050 shares during the period. Intuit accounts for approximately 0.9% of Blair William & Co. IL’s investment portfolio, making the stock its 26th biggest holding. Blair William & Co. IL owned about 0.15% of Intuit worth $279,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the second quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit in the 2nd quarter worth approximately $35,000. Finally, Trifecta Capital Advisors LLC increased its holdings in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after buying an additional 35 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.2 %

Shares of NASDAQ INTU opened at $644.82 on Wednesday. The firm has a market cap of $180.26 billion, a price-to-earnings ratio of 59.49, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company’s 50-day simple moving average is $636.25 and its 200-day simple moving average is $631.29. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm posted $0.40 EPS. Intuit’s revenue was up 17.4% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid 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 0.65%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,940 shares of company stock worth $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target (up from $760.00) on shares of Intuit in a research report on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a report on Friday, June 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

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.