Brighton Jones LLC Sells 110 Shares of Intuit Inc. (NASDAQ:INTU)

Brighton Jones LLC trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,496 shares of the software maker’s stock after selling 110 shares during the quarter. Brighton Jones LLC’s holdings in Intuit were worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Intuit by 9.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after buying an additional 270,432 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after buying an additional 56,370 shares during the last quarter. Finally, Parnassus Investments LLC grew its position in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Insiders sold 22,389 shares of company stock worth $14,231,188 over the last quarter. 2.90% of the stock is currently owned by insiders.

Intuit Stock Down 1.4 %

Shares of NASDAQ:INTU opened at $644.99 on Friday. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The stock has a fifty day simple moving average of $636.82 and a two-hundred day simple moving average of $631.30. 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 has a market capitalization of $180.31 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business earned $0.40 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. On average, research analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus lifted 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. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Piper Sandler restated an “overweight” rating and issued a $768.00 target price (up previously from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Finally, Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit 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.