EP Wealth Advisors LLC Has $3.66 Million Position in Intuit Inc. (NASDAQ:INTU)

EP Wealth Advisors LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.1% during the 2nd quarter, Holdings Channel reports. The firm owned 5,565 shares of the software maker’s stock after selling 298 shares during the quarter. EP Wealth Advisors LLC’s holdings in Intuit were worth $3,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares during the period. Wellington Management Group LLP lifted its stake in shares of Intuit by 173.0% during 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 boosted its holdings in shares of Intuit by 9.5% during 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 period. Legal & General Group Plc grew its stake in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Up 0.3 %

Shares of NASDAQ INTU opened at $621.00 on Tuesday. The stock has a 50-day moving average price of $634.62 and a two-hundred day moving average price of $630.21. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. 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 company has a market cap of $173.60 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Activity

In other news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,583 shares of company stock valued at $32,975,909. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Finally, BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

About Intuit

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.