L. Roy Papp & Associates LLP increased its stake in Intuit Inc. (NASDAQ:INTU – Free Report) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,765 shares of the software maker’s stock after buying an additional 25 shares during the quarter. L. Roy Papp & Associates LLP’s holdings in Intuit were worth $4,822,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit during the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.
Insider Buying and Selling
In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on INTU
Intuit Price Performance
Shares of Intuit stock traded up $5.29 during trading on Friday, reaching $609.27. 1,000,674 shares of the stock traded hands, compared to its average volume of 1,264,688. The company has a market capitalization of $170.77 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 2.98 and a beta of 1.24. The business has a fifty day simple moving average of $626.86 and a two-hundred day simple moving average of $626.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.
Intuit (NASDAQ:INTU – Get Free Report) last issued 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. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. Sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current year.
Intuit Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 39.81%.
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.
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