Intuit Inc. (NASDAQ:INTU) Stock Holdings Lifted by Tobam

Tobam lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 25.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 606 shares of the software maker’s stock after acquiring an additional 123 shares during the quarter. Tobam’s holdings in Intuit were worth $376,000 at the end of the most recent reporting period.

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

Intuit Stock Down 0.4 %

Shares of INTU stock opened at $619.30 on Friday. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The stock has a market cap of $173.58 billion, a P/E ratio of 59.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a fifty day moving average price of $631.19 and a 200 day moving average price of $628.88.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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%. The company’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Analysts predict 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 will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is 34.45%.

Insider Buying and Selling

In other 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 transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. 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 other news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,297 shares of company stock worth $32,750,926. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTU. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Stifel Nicolaus lifted their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $735.71.

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.