Intuit Inc. (NASDAQ:INTU) Stock Holdings Increased by Claro Advisors LLC

Claro Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7,393.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,125 shares of the software maker’s stock after buying an additional 26,763 shares during the quarter. Intuit comprises approximately 1.6% of Claro Advisors LLC’s portfolio, making the stock its 8th biggest holding. Claro Advisors LLC’s holdings in Intuit were worth $16,845,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit during the 2nd quarter valued at about $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $1.56 during trading on Friday, reaching $610.79. The stock had a trading volume of 151,095 shares, compared to its average volume of 1,319,460. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $170.74 billion, a PE ratio of 56.20, a P/E/G ratio of 3.04 and a beta of 1.24. The firm’s 50 day moving average price is $630.74 and its two-hundred day moving average price is $627.72.

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

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 in the company, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada assumed coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Bank of America lifted their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $735.71.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.