Tilia Fiduciary Partners Inc. Has $1.87 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Tilia Fiduciary Partners Inc. grew its stake in Intuit Inc. (NASDAQ:INTU) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 3,016 shares of the software maker’s stock after buying an additional 96 shares during the quarter. Tilia Fiduciary Partners Inc.’s holdings in Intuit were worth $1,873,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. XML Financial LLC grew its position in shares of Intuit by 9.6% in the 4th quarter. XML Financial LLC now owns 570 shares of the software maker’s stock valued at $356,000 after buying an additional 50 shares during the last quarter. BOKF NA boosted its holdings in Intuit by 1.8% in the fourth quarter. BOKF NA now owns 18,368 shares of the software maker’s stock valued at $11,481,000 after acquiring an additional 320 shares during the last quarter. Ethic Inc. increased its position in Intuit by 7.1% during the 4th quarter. Ethic Inc. now owns 21,271 shares of the software maker’s stock valued at $13,295,000 after purchasing an additional 1,413 shares during the period. L1 Capital International Pty Ltd bought a new position in Intuit during the 4th quarter worth approximately $7,506,000. Finally, Power Corp of Canada lifted its position in shares of Intuit by 6.1% in the 4th quarter. Power Corp of Canada now owns 17,926 shares of the software maker’s stock worth $11,204,000 after purchasing an additional 1,035 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,297 shares of company stock worth $32,750,926 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup increased their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Jefferies Financial Group raised their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $1.58 during mid-day trading on Wednesday, reaching $614.95. The company had a trading volume of 166,437 shares, compared to its average volume of 1,325,177. The company’s 50-day moving average price is $631.71 and its 200-day moving average price is $628.93. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The firm has a market cap of $171.91 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 3.13 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.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $0.40 EPS. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

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

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.