Atomi Financial Group Inc. Makes New $324,000 Investment in Intuit Inc. (NASDAQ:INTU)

Atomi Financial Group Inc. purchased a new position in Intuit Inc. (NASDAQ:INTU) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 728 shares of the software maker’s stock, valued at approximately $324,000.

A number of other institutional investors have also recently made changes to their positions in INTU. Aspire Private Capital LLC bought a new stake in Intuit in the first quarter worth $12,037,410,000. HHM Wealth Advisors LLC bought a new stake in shares of Intuit in the 1st quarter worth about $25,000. Raleigh Capital Management Inc. raised its position in shares of Intuit by 100.0% during the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock valued at $26,000 after buying an additional 29 shares in the last quarter. Activest Wealth Management bought a new position in shares of Intuit in the 1st quarter valued at about $27,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Intuit in the first quarter worth about $29,000. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Marianna Tessel sold 8,702 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the completion of the sale, the executive vice president now owns 32,171 shares in the company, valued at approximately $17,778,659.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Marianna Tessel sold 8,702 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the sale, the executive vice president now owns 32,171 shares in the company, valued at $17,778,659.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 1,412 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $452.74, for a total transaction of $639,268.88. Following the transaction, the chief financial officer now owns 1,350 shares in the company, valued at approximately $611,199. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,927 shares of company stock valued at $44,218,147. 3.18% of the stock is currently owned by insiders.

Intuit Trading Down 0.7 %

INTU opened at $541.95 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.51 and a debt-to-equity ratio of 0.35. The firm has a market cap of $151.91 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 3.36 and a beta of 1.19. Intuit Inc. has a 12 month low of $352.63 and a 12 month high of $558.64. The stock has a fifty day moving average price of $504.14 and a 200-day moving average price of $457.47.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 24th. The software maker reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.22. Intuit had a net margin of 16.59% and a return on equity of 16.61%. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the company posted $0.22 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 11.25 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.66%. This is an increase from Intuit’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, October 5th. Intuit’s dividend payout ratio (DPR) is 42.65%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INTU shares. StockNews.com initiated coverage on Intuit in a research note on Thursday, August 17th. They issued a “buy” rating for the company. BNP Paribas raised shares of Intuit from an “underperform” rating to a “neutral” rating and set a $532.00 price objective for the company in a research note on Wednesday, July 19th. Mizuho increased their target price on shares of Intuit from $550.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, September 7th. Citigroup lifted their price target on shares of Intuit from $495.00 to $565.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Finally, Argus increased their price objective on shares of Intuit from $580.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, September 6th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $551.73.

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 ProConnect.