Avidian Wealth Enterprises LLC Increases Holdings in Intuit Inc. (NASDAQ:INTU)

Avidian Wealth Enterprises LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 36.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 667 shares of the software maker’s stock after acquiring an additional 177 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Intuit were worth $414,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in INTU. Crestwood Advisors Group LLC increased its position in shares of Intuit by 5.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock valued at $1,032,000 after purchasing an additional 90 shares during the last quarter. Pittenger & Anderson Inc. boosted its stake in Intuit by 20.1% during the third quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock worth $2,323,000 after buying an additional 625 shares during the period. Amalgamated Bank increased its position in Intuit by 7.2% during the third quarter. Amalgamated Bank now owns 63,974 shares of the software maker’s stock valued at $39,728,000 after acquiring an additional 4,289 shares during the last quarter. Sentry Investment Management LLC raised its stake in shares of Intuit by 11.6% in the third quarter. Sentry Investment Management LLC now owns 1,360 shares of the software maker’s stock valued at $845,000 after acquiring an additional 141 shares during the period. Finally, Stoneridge Investment Partners LLC lifted its holdings in shares of Intuit by 6.0% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 1,294 shares of the software maker’s stock worth $804,000 after acquiring an additional 73 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Up 4.0 %

NASDAQ:INTU opened at $674.15 on Friday. The firm has a market capitalization of $188.96 billion, a P/E ratio of 64.47, a PEG ratio of 3.03 and a beta of 1.25. The company’s fifty day moving average price is $623.43 and its 200-day moving average price is $626.96. Intuit Inc. has a 1-year low of $513.97 and a 1-year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping 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 business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 39.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report 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. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

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.