Fiduciary Alliance LLC Buys New Position in Intuit Inc. (NASDAQ:INTU)

Fiduciary Alliance LLC bought a new stake in Intuit Inc. (NASDAQ:INTU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 416 shares of the software maker’s stock, valued at approximately $258,000.

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

Intuit Stock Up 0.1 %

NASDAQ INTU opened at $617.16 on Tuesday. The stock has a market cap of $172.53 billion, a PE ratio of 56.93, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The business has a 50 day moving average price of $630.96 and a two-hundred day moving average price of $628.20. 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 (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) 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 company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the company posted $0.40 EPS. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were 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 in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. 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. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on INTU shares. BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Piper Sandler restated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Barclays lowered their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Royal Bank of Canada started coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $735.71.

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.