OneDigital Investment Advisors LLC Sells 288 Shares of Intuit Inc. (NASDAQ:INTU)

OneDigital Investment Advisors LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,262 shares of the software maker’s stock after selling 288 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Intuit were worth $4,510,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. ING Groep NV increased its holdings in shares of Intuit by 114.1% in the third quarter. ING Groep NV now owns 94,903 shares of the software maker’s stock worth $58,935,000 after purchasing an additional 50,577 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Intuit by 3.9% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,843 shares of the software maker’s stock worth $4,871,000 after acquiring an additional 293 shares during the last quarter. Metis Global Partners LLC increased its stake in Intuit by 1.8% during the third quarter. Metis Global Partners LLC now owns 15,346 shares of the software maker’s stock worth $9,530,000 after acquiring an additional 271 shares during the last quarter. Aubrey Capital Management Ltd increased its stake in Intuit by 20.9% during the third quarter. Aubrey Capital Management Ltd now owns 8,100 shares of the software maker’s stock worth $5,030,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Planning Capital Management Corp increased its stake in Intuit by 67.9% during the third quarter. Planning Capital Management Corp now owns 1,691 shares of the software maker’s stock worth $1,050,000 after acquiring an additional 684 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the company’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 in the company, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.8 %

Shares of NASDAQ INTU opened at $687.87 on Friday. 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 firm has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. The stock has a 50 day moving average price of $631.62 and a 200 day moving average price of $629.71. Intuit Inc. has a 52-week low of $552.68 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU) last announced its quarterly 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. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Sell-side analysts expect 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. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INTU shares. Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $739.24.

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.