Nations Financial Group Inc. IA ADV Increases Stake in Intuit Inc. (NASDAQ:INTU)

Nations Financial Group Inc. IA ADV boosted its stake in Intuit Inc. (NASDAQ:INTU) by 22.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,016 shares of the software maker’s stock after buying an additional 183 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Intuit were worth $631,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. International Assets Investment Management LLC lifted its stake in shares of Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% during 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 buying an additional 283,291 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Intuit during the 2nd quarter valued at $184,982,000. Ameriprise Financial Inc. grew its position in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after acquiring an additional 169,190 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $706.25 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $197.95 billion, a PE ratio of 67.58, a price-to-earnings-growth ratio of 3.42 and a beta of 1.25. The firm’s 50 day moving average price is $628.37 and its 200-day moving average price is $628.67. Intuit Inc. has a twelve month low of $541.40 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last released 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 net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Equities research analysts expect 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. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 39.81%.

Analysts Set New Price Targets

INTU has been the topic of several research reports. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insiders Place Their Bets

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 transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

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.