Vest Financial LLC Buys 1,210 Shares of Intuit Inc. (NASDAQ:INTU)

Vest Financial LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 105.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,357 shares of the software maker’s stock after buying an additional 1,210 shares during the period. Vest Financial LLC’s holdings in Intuit were worth $1,464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. LGT Financial Advisors LLC purchased a new position in Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit in the second quarter worth $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in Intuit during the 2nd quarter valued at $35,000. Finally, Trifecta Capital Advisors LLC boosted its position in Intuit by 145.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of the business’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 completion of the transaction, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. 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 through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.7 %

Shares of NASDAQ INTU opened at $613.29 on Monday. Intuit Inc. has a 1 year low of $473.56 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. The firm has a 50-day moving average of $630.40 and a 200 day moving average of $627.57. The stock has a market cap of $171.44 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Analysts Set New Price Targets

A number of research firms have issued reports on INTU. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.