Modera Wealth Management LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Modera Wealth Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 1.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,694 shares of the software maker’s stock after buying an additional 26 shares during the period. Modera Wealth Management LLC’s holdings in Intuit were worth $1,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC purchased a new position in Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new position in Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the second quarter worth $35,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INTU. Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. 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. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s 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 sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s 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 sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

INTU opened at $609.27 on Monday. The business’s 50-day moving average is $626.86 and its two-hundred day moving average is $626.62. 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 market capitalization of $170.32 billion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted 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 return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.68%. 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 38.38%.

Intuit 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.