Private Advisor Group LLC Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Private Advisor Group LLC lessened its position in Intuit Inc. (NASDAQ:INTUFree Report) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,200 shares of the software maker’s stock after selling 36 shares during the quarter. Private Advisor Group LLC’s holdings in Intuit were worth $4,680,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Townsquare Capital LLC lifted its position in shares of Intuit by 5.8% in the third quarter. Townsquare Capital LLC now owns 11,387 shares of the software maker’s stock valued at $5,818,000 after acquiring an additional 628 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Intuit by 15.1% in the third quarter. Essex Financial Services Inc. now owns 875 shares of the software maker’s stock valued at $447,000 after acquiring an additional 115 shares in the last quarter. FineMark National Bank & Trust lifted its position in shares of Intuit by 11.3% in the third quarter. FineMark National Bank & Trust now owns 1,369 shares of the software maker’s stock valued at $699,000 after acquiring an additional 139 shares in the last quarter. Belpointe Asset Management LLC lifted its position in Intuit by 8.1% during the third quarter. Belpointe Asset Management LLC now owns 599 shares of the software maker’s stock worth $306,000 after buying an additional 45 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. lifted its position in Intuit by 1,754.9% during the third quarter. Financial Gravity Asset Management Inc. now owns 48,617 shares of the software maker’s stock worth $24,840,000 after buying an additional 45,996 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the sale, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the transaction, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares in the company, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock worth $114,442,445 in the last quarter. 2.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on INTU. Royal Bank of Canada began coverage on Intuit in a research report on Wednesday. They set an “outperform” rating and a $760.00 price objective on the stock. Susquehanna reduced their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Wells Fargo & Company lifted their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Piper Sandler lifted their price objective on Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research report on Friday, May 24th. Finally, Stifel Nicolaus reduced their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

View Our Latest Stock Report on INTU

Intuit Trading Up 1.3 %

Shares of NASDAQ INTU opened at $668.75 on Friday. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $621.74 and a 200-day simple moving average of $629.80. The stock has a market capitalization of $186.95 billion, a PE ratio of 61.69, a PEG ratio of 3.82 and a beta of 1.23.

Intuit (NASDAQ:INTUGet Free Report) last issued its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the previous year, the firm posted $7.80 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.54%. Intuit’s dividend payout ratio (DPR) is 33.21%.

Intuit Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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