McKinley Carter Wealth Services Inc. Has $11.29 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

McKinley Carter Wealth Services Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 0.2% during the third quarter, HoldingsChannel reports. The firm owned 18,180 shares of the software maker’s stock after selling 39 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Intuit were worth $11,290,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp acquired a new position in Intuit during the 2nd quarter worth approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of the firm’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 transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. 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 firm’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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Down 1.2 %

Shares of INTU traded down $7.13 during trading hours on Wednesday, hitting $610.76. 116,328 shares of the stock were exchanged, compared to its average volume of 1,321,142. 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 of $631.08 and a 200-day moving average of $627.98. The firm has a market capitalization of $170.74 billion, a P/E ratio of 57.00, 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.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $0.40 EPS. The business’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. 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 yield of 0.68%. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INTU. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley lowered 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 report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Royal Bank of Canada started coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Finally, Citigroup upped their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.