Thrive Wealth Management LLC Has $1.24 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Thrive Wealth Management LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,992 shares of the software maker’s stock after selling 55 shares during the quarter. Thrive Wealth Management LLC’s holdings in Intuit were worth $1,237,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in Intuit in the second quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp acquired a new stake in Intuit in the 2nd quarter valued at $39,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,297 shares of company stock worth $32,750,926. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTU. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets upped their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Barclays dropped their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Price Performance

Shares of Intuit stock traded up $6.86 on Friday, reaching $610.67. The company’s stock had a trading volume of 1,220,223 shares, compared to its average volume of 1,330,014. The company has a market capitalization of $170.71 billion, a P/E ratio of 56.33, a PEG ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The stock has a 50-day moving average price of $632.84 and a 200-day moving average price of $629.59. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The company 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%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Analysts expect that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.