RFG Advisory LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 7.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,817 shares of the software maker’s stock after acquiring an additional 127 shares during the quarter. RFG Advisory LLC’s holdings in Intuit were worth $593,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Intuit by 33.3% in the first quarter. Advisors Asset Management Inc. now owns 10,043 shares of the software maker’s stock valued at $2,310,000 after acquiring an additional 2,510 shares during the period. State of Alaska Department of Revenue lifted its position in Intuit by 7.8% during the third quarter. State of Alaska Department of Revenue now owns 58,725 shares of the software maker’s stock valued at $19,155,000 after purchasing an additional 4,271 shares during the last quarter. AXA lifted its position in Intuit by 8.0% during the first quarter. AXA now owns 293,329 shares of the software maker’s stock valued at $67,465,000 after purchasing an additional 21,694 shares during the last quarter. APG Asset Management N.V. lifted its position in Intuit by 12.9% during the first quarter. APG Asset Management N.V. now owns 267,921 shares of the software maker’s stock valued at $61,622,000 after purchasing an additional 30,651 shares during the last quarter. Finally, FDx Advisors Inc. lifted its position in Intuit by 96.9% during the first quarter. FDx Advisors Inc. now owns 6,204 shares of the software maker’s stock valued at $1,427,000 after purchasing an additional 3,053 shares during the last quarter. Institutional investors own 85.52% of the company’s stock.
Shares of NASDAQ INTU opened at $345.30 on Thursday. The company has a quick ratio of 2.26, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. Intuit Inc. has a 52 week low of $187.68 and a 52 week high of $360.00. The firm’s fifty day moving average is $327.54 and its 200 day moving average is $294.23. The company has a market cap of $90.40 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 3.54 and a beta of 0.99.
Intuit (NASDAQ:INTU) last issued its earnings results on Tuesday, August 25th. The software maker reported $1.81 EPS for the quarter, topping the consensus estimate of $0.86 by $0.95. Intuit had a net margin of 23.78% and a return on equity of 40.79%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm earned ($0.09) earnings per share. The firm’s revenue for the quarter was up 81.1% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 7.11 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 19th. Investors of record on Monday, October 12th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, October 8th. Intuit’s payout ratio is presently 35.98%.
Several brokerages have issued reports on INTU. Guggenheim lifted their target price on shares of Intuit from $320.00 to $395.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Piper Sandler lifted their target price on shares of Intuit from $351.00 to $373.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. KeyCorp lifted their target price on shares of Intuit from $315.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. Citigroup lifted their target price on shares of Intuit from $292.00 to $362.00 and gave the company a “neutral” rating in a research report on Thursday, August 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Intuit from $340.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have given a buy rating to the company’s stock. Intuit currently has a consensus rating of “Buy” and a consensus price target of $360.94.
In related news, EVP Laura A. Fennell sold 29,204 shares of Intuit stock in a transaction on Monday, September 14th. The shares were sold at an average price of $320.34, for a total value of $9,355,209.36. Following the transaction, the executive vice president now directly owns 95,313 shares of the company’s stock, valued at $30,532,566.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Brad D. Smith sold 18,773 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $342.01, for a total transaction of $6,420,553.73. Following the transaction, the chairman now directly owns 304,706 shares in the company, valued at $104,212,499.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 244,742 shares of company stock worth $83,471,109. 4.09% of the stock is owned by insiders.
Intuit Company Profile
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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