Intuit Inc. (NASDAQ:INTU) Shares Purchased by Wealth Architects LLC

Wealth Architects LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,270 shares of the software maker’s stock after buying an additional 37 shares during the quarter. Wealth Architects LLC’s holdings in Intuit were worth $789,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $648.39 on Thursday. 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 Inc. has a one year low of $506.97 and a one year high of $676.62. The stock’s 50 day moving average price is $623.43 and its 200 day moving average price is $626.96. The firm has a market capitalization of $181.74 billion, a PE ratio of 62.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 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 analysts’ expectations of $3.08 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. Intuit’s payout ratio is 39.81%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INTU shares. Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Stifel Nicolaus increased their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction 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 owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

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.