Blue Trust Inc. Buys 131 Shares of Intuit Inc. (NASDAQ:INTU)

Blue Trust Inc. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,194 shares of the software maker’s stock after acquiring an additional 131 shares during the quarter. Blue Trust Inc.’s holdings in Intuit were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. lifted their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Citigroup upped their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Jefferies Financial Group lifted their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity at Intuit

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

Intuit Stock Up 0.7 %

NASDAQ:INTU opened at $613.29 on Friday. The firm has a 50-day simple moving average of $630.40 and a two-hundred day simple moving average of $627.54. The firm has a market cap of $171.44 billion, a P/E ratio of 56.58, 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 company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Analysts predict 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 issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

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.