Intuit Inc. (NASDAQ:INTU) Shares Sold by KMG Fiduciary Partners LLC

KMG Fiduciary Partners LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 751 shares of the software maker’s stock after selling 49 shares during the period. KMG Fiduciary Partners LLC’s holdings in Intuit were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Intech Investment Management LLC grew its position in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the period. GAMMA Investing LLC raised its position in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the last quarter. Cetera Advisors LLC lifted its stake in Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after buying an additional 2,655 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in Intuit by 13.4% in the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after buying an additional 1,328 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its stake in Intuit by 13.0% during the 1st quarter. New Mexico Educational Retirement Board now owns 16,478 shares of the software maker’s stock worth $10,711,000 after buying an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of several research reports. Bank of America lifted their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada began coverage on shares of Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Barclays reduced their target price 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. Citigroup boosted their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. 2.90% of the stock is owned by company insiders.

Intuit Stock Performance

Shares of Intuit stock opened at $613.29 on Friday. The firm has a market cap of $171.44 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. 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 business’s fifty day simple moving average is $630.40 and its 200-day simple moving average is $627.54.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date 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%.

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.