AdvisorNet Financial Inc Has $321,000 Position in Intuit Inc. (NASDAQ:INTU)

AdvisorNet Financial Inc lowered its holdings in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 9.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 833 shares of the software maker’s stock after selling 90 shares during the quarter. AdvisorNet Financial Inc’s holdings in Intuit were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Segall Bryant & Hamill LLC raised its position in shares of Intuit by 0.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock worth $1,672,000 after purchasing an additional 19 shares during the period. FineMark National Bank & Trust raised its position in Intuit by 2.1% in the 4th quarter. FineMark National Bank & Trust now owns 959 shares of the software maker’s stock valued at $617,000 after buying an additional 20 shares during the last quarter. Contravisory Investment Management Inc. raised its position in Intuit by 3.4% in the 1st quarter. Contravisory Investment Management Inc. now owns 704 shares of the software maker’s stock valued at $339,000 after buying an additional 23 shares during the last quarter. RB Capital Management LLC raised its position in Intuit by 1.0% in the 4th quarter. RB Capital Management LLC now owns 2,445 shares of the software maker’s stock valued at $1,572,000 after buying an additional 24 shares during the last quarter. Finally, Cooper Financial Group raised its position in Intuit by 4.9% in the 1st quarter. Cooper Financial Group now owns 511 shares of the software maker’s stock valued at $246,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $423.69 on Tuesday. The stock has a market cap of $119.43 billion, a P/E ratio of 58.44, a PEG ratio of 2.91 and a beta of 1.19. The stock has a 50 day simple moving average of $440.48 and a 200 day simple moving average of $429.98. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. Intuit Inc. has a 1-year low of $339.36 and a 1-year high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last released its quarterly earnings results on Tuesday, August 23rd. The software maker reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same quarter in the previous year, the company posted $1.28 earnings per share. Research analysts anticipate that Intuit Inc. will post 9.1 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a dividend of $0.78 per share. This is a boost from Intuit’s previous quarterly dividend of $0.68. This represents a $3.12 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, October 6th. Intuit’s dividend payout ratio (DPR) is presently 37.52%.

Insider Buying and Selling

In other Intuit news, EVP Varun Krishna sold 7,438 shares of Intuit stock in a transaction on Friday, September 9th. The stock was sold at an average price of $450.80, for a total value of $3,353,050.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, EVP Varun Krishna sold 7,438 shares of Intuit stock in a transaction on Friday, September 9th. The stock was sold at an average price of $450.80, for a total value of $3,353,050.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sasan K. Goodarzi sold 22,250 shares of Intuit stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the transaction, the chief executive officer now directly owns 60,208 shares of the company’s stock, valued at $27,888,947.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,108 shares of company stock valued at $22,650,291. Insiders own 3.27% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Oppenheimer lifted their target price on Intuit from $476.00 to $516.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th. Barclays lifted their target price on Intuit from $580.00 to $585.00 and gave the company an “overweight” rating in a research report on Wednesday, August 24th. Wells Fargo & Company decreased their price target on Intuit from $635.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, May 25th. Piper Sandler raised their price target on Intuit from $500.00 to $553.00 and gave the company an “overweight” rating in a research note on Wednesday, August 24th. Finally, KeyCorp raised their price target on Intuit from $475.00 to $525.00 and gave the company an “overweight” rating in a research note on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $570.61.

Intuit Profile

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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