Intuit Inc. (NASDAQ:INTU) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,457 shares of the software maker’s stock after selling 434 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Intuit were worth $8,978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. International Assets Investment Management LLC lifted its position in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Intuit during the second quarter worth about $184,982,000. Ameriprise Financial Inc. boosted its stake in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, Clearbridge Investments LLC grew its position in Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after acquiring an additional 169,190 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.2 %

NASDAQ INTU traded down $8.66 during trading hours on Thursday, hitting $697.59. The company had a trading volume of 76,777 shares, compared to its average volume of 1,325,976. The company has a market capitalization of $195.53 billion, a price-to-earnings ratio of 67.58, a P/E/G ratio of 3.42 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $552.68 and a fifty-two week high of $714.78. The firm’s 50 day moving average is $630.03 and its 200 day moving average is $629.21. 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 (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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 company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. Sell-side analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. Intuit’s dividend payout ratio is presently 39.81%.

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.