312 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 312 shares of the software maker’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter worth about $35,000. Sachetta LLC acquired a new stake in Intuit during the 4th quarter worth approximately $39,000. Finally, J.Safra Asset Management Corp purchased a new position in Intuit in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 1.4 %

Shares of NASDAQ INTU opened at $655.31 on Friday. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a market cap of $183.68 billion, a price-to-earnings ratio of 60.45, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $636.63 and its 200 day simple moving average is $631.75.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $0.40 EPS. Intuit’s revenue was up 17.4% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 33.21%.

Analyst Ratings Changes

Several research analysts have commented on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Barclays dropped their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. Insiders have sold 16,940 shares of company stock valued at $10,721,252 in the last quarter. Corporate 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.