J.W. Cole Advisors Inc. Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

J.W. Cole Advisors Inc. lifted its stake in Intuit Inc. (NASDAQ:INTUGet Rating) by 25,762.0% in the 1st quarter, HoldingsChannel reports. The firm owned 126,724 shares of the software maker’s stock after buying an additional 126,234 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Intuit were worth $62,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. San Luis Wealth Advisors LLC purchased a new position in Intuit during the 1st quarter valued at about $26,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in Intuit during the 4th quarter valued at about $28,000. Activest Wealth Management purchased a new position in Intuit during the 1st quarter valued at about $29,000. Cornerstone Advisory LLC purchased a new position in Intuit during the 4th quarter valued at about $48,000. Finally, Motco purchased a new position in Intuit during the 1st quarter valued at about $45,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Michelle M. Clatterbuck sold 1,791 shares of Intuit stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $462.12, for a total transaction of $827,656.92. Following the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $623,862. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the business’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $462.12, for a total value of $827,656.92. Following the transaction, the chief financial officer now owns 1,350 shares of the company’s stock, valued at $623,862. The transaction 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 the business’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total transaction of $10,306,422.50. Following the completion of the transaction, the chief executive officer now directly owns 60,208 shares in the company, valued at approximately $27,888,947.68. The disclosure for this sale can be found here. Insiders have sold 39,318 shares of company stock valued at $18,027,628 over the last 90 days. 3.27% of the stock is currently owned by corporate insiders.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $396.71 on Friday. The firm has a 50 day moving average of $442.39 and a 200 day moving average of $429.18. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $111.82 billion, a price-to-earnings ratio of 54.72, a price-to-earnings-growth ratio of 2.87 and a beta of 1.19. Intuit Inc. has a 12-month low of $339.36 and a 12-month high of $716.86.

Intuit (NASDAQ:INTUGet Rating) last announced its earnings results on Tuesday, August 23rd. The software maker reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.12. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same quarter last year, the business earned $1.28 earnings per share. On average, 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. Shareholders of record on Monday, October 10th will be issued a dividend of $0.78 per share. The ex-dividend date is Thursday, October 6th. This represents a $3.12 annualized dividend and a yield of 0.79%. This is an increase from Intuit’s previous quarterly dividend of $0.68. Intuit’s payout ratio is currently 37.52%.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent research reports. Oppenheimer lifted their price target on shares of Intuit from $476.00 to $516.00 and gave the company an “outperform” rating in a research report on Wednesday, August 24th. Citigroup started coverage on shares of Intuit in a research note on Thursday, September 1st. They set a “buy” rating and a $538.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intuit from $525.00 to $560.00 in a research note on Wednesday, August 24th. Piper Sandler raised their price objective on shares of Intuit from $500.00 to $553.00 and gave the company an “overweight” rating in a research note on Wednesday, August 24th. Finally, Stifel Nicolaus raised their price objective on shares of Intuit from $465.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Two research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $566.89.

About Intuit

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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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