Ritholtz Wealth Management purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 699 shares of the software maker’s stock, valued at approximately $228,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Group Wealth Management LLC acquired a new position in Intuit during the 2nd quarter valued at about $25,000. Financial Management Professionals Inc. acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $27,000. Crewe Advisors LLC acquired a new stake in shares of Intuit in the 3rd quarter worth approximately $30,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $32,000. 85.52% of the stock is owned by institutional investors and hedge funds.
Shares of INTU stock traded down $6.06 during trading hours on Monday, reaching $328.36. 5,442 shares of the stock traded hands, compared to its average volume of 1,383,432. Intuit Inc. has a 1-year low of $187.68 and a 1-year high of $360.00. The business has a fifty day moving average price of $326.27 and a 200 day moving average price of $299.10. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $87.55 billion, a PE ratio of 48.33, a PEG ratio of 3.25 and a beta of 0.99.
Intuit (NASDAQ:INTU) last released its quarterly earnings results on Tuesday, August 25th. The software maker reported $1.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.95. Intuit had a net margin of 23.78% and a return on equity of 40.79%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business earned ($0.09) earnings per share. The firm’s revenue was up 81.1% compared to the same quarter last year. Research analysts expect that Intuit Inc. will post 7.11 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 19th. Shareholders of record on Monday, October 12th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, October 8th. This is a positive change from Intuit’s previous quarterly dividend of $0.53. Intuit’s dividend payout ratio is currently 35.98%.
A number of analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Intuit from $292.00 to $362.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Wells Fargo & Company upped their price target on shares of Intuit from $345.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 26th. Jefferies Financial Group boosted their target price on shares of Intuit from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Mizuho boosted their target price on shares of Intuit from $330.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Finally, Credit Suisse Group boosted their target price on shares of Intuit from $330.00 to $375.00 and gave the stock an “outperform” rating in a report on Wednesday, August 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $360.94.
In other Intuit news, EVP Gregory N. Johnson sold 3,069 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $341.96, for a total value of $1,049,475.24. Following the transaction, the executive vice president now owns 13,192 shares in the company, valued at approximately $4,511,136.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 161,258 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $345.66, for a total transaction of $55,740,440.28. Following the completion of the transaction, the chief executive officer now owns 154,306 shares in the company, valued at approximately $53,337,411.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 244,742 shares of company stock worth $83,471,109. Company insiders own 4.09% of the company’s stock.
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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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