Intuit Inc. (NASDAQ:INTU) Stock Holdings Boosted by Bouvel Investment Partners LLC

Bouvel Investment Partners LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 0.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,683 shares of the software maker’s stock after buying an additional 49 shares during the quarter. Intuit accounts for 2.2% of Bouvel Investment Partners LLC’s investment portfolio, making the stock its 10th largest position. Bouvel Investment Partners LLC’s holdings in Intuit were worth $6,013,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC raised its holdings in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares during the last quarter. WASHINGTON TRUST Co lifted its position in shares of Intuit by 10.5% during the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares during the period. PFG Investments LLC grew its holdings in shares of Intuit by 1.1% in the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 17 shares in the last quarter. Finally, Plancorp LLC grew its holdings in shares of Intuit by 2.0% in the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after purchasing an additional 17 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade 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 the SEC website. In other news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred 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 directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents 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 through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit 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 of the company’s stock, valued at $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. In the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INTU shares. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Up 1.0 %

Intuit stock opened at $706.25 on Thursday. The stock has a 50 day moving average of $628.37 and a two-hundred day moving average of $628.67. Intuit Inc. has a twelve month low of $541.40 and a twelve month high of $714.78. The stock has a market capitalization of $197.95 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 3.42 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $0.40 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. As a group, research 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 given 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 yield of 0.59%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

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.