Intuit Inc. (NASDAQ:INTU) Shares Sold by PFG Advisors

PFG Advisors lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,817 shares of the software maker’s stock after selling 289 shares during the period. PFG Advisors’ holdings in Intuit were worth $2,370,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. SG Americas Securities LLC raised its position in Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after acquiring an additional 285,328 shares during the last quarter. Vanguard Group Inc. raised its position in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Intuit during the second quarter worth about $184,982,000. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTU. Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Finally, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Price Performance

INTU opened at $609.39 on Thursday. 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. The company has a 50 day moving average of $631.07 and a two-hundred day moving average of $627.85. The company has a market cap of $170.35 billion, a P/E ratio of 56.22, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released 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. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

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

Insider Activity

In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

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.