Raymond James & Associates Sells 3,638 Shares of Intuit Inc. (NASDAQ:INTU)

Raymond James & Associates lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 410,355 shares of the software maker’s stock after selling 3,638 shares during the quarter. Raymond James & Associates owned about 0.15% of Intuit worth $254,830,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares in the last quarter. WASHINGTON TRUST Co increased its stake in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC grew its position in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after buying an additional 17 shares during the last quarter. Finally, Stonebrook Private Inc. lifted its holdings in shares of Intuit by 4.5% in the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after buying an additional 17 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, 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 transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays lowered their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Price Performance

Shares of Intuit stock traded up $4.06 during trading hours on Friday, reaching $613.29. The stock had a trading volume of 1,299,488 shares, compared to its average volume of 1,324,761. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. 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 firm has a market capitalization of $171.44 billion, a PE ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24. The stock’s 50 day moving average is $630.40 and its 200 day moving average is $627.53.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results 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 company had revenue of $3.18 billion for 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%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. Equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 38.38%.

Intuit 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.