FSM Wealth Advisors LLC Cuts Position in Intuit Inc. (NASDAQ:INTU)

FSM Wealth Advisors LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 1.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,606 shares of the software maker’s stock after selling 25 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Intuit were worth $1,208,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. HHM Wealth Advisors LLC acquired a new stake in shares of Intuit during the 1st quarter worth about $25,000. Raleigh Capital Management Inc. boosted its stake 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 worth $26,000 after purchasing an additional 29 shares during the last quarter. Activest Wealth Management acquired a new stake in shares of Intuit during the 1st quarter worth about $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Intuit during the 1st quarter worth about $29,000. Finally, Barrett & Company Inc. acquired a new stake in shares of Intuit in the first quarter worth approximately $29,000. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 53,741 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the sale, the executive vice president now directly owns 39,896 shares of the company’s stock, valued at $17,991,500.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Laura A. Fennell sold 53,741 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $450.96, for a total value of $24,235,041.36. Following the completion of the sale, the executive vice president now directly owns 39,896 shares of the company’s stock, valued at $17,991,500.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marianna Tessel sold 7,310 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $531.31, for a total transaction of $3,883,876.10. Following the completion of the sale, the executive vice president now directly owns 28,840 shares of the company’s stock, valued at $15,322,980.40. The disclosure for this sale can be found here. In the last three months, insiders sold 90,927 shares of company stock valued at $44,218,147. 3.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INTU shares. Oppenheimer raised their target price on shares of Intuit from $476.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, August 25th. Piper Sandler raised their price target on shares of Intuit from $528.00 to $642.00 and gave the company an “overweight” rating in a report on Monday, September 11th. Jefferies Financial Group raised their price target on shares of Intuit from $525.00 to $600.00 and gave the company a “buy” rating in a report on Monday, August 14th. BNP Paribas upgraded shares of Intuit from an “underperform” rating to a “neutral” rating and set a $532.00 price target on the stock in a report on Wednesday, July 19th. Finally, Evercore ISI lifted their price objective on shares of Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a research note on Friday, August 25th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $551.73.

Intuit Price Performance

NASDAQ INTU traded down $1.99 on Monday, reaching $536.09. The company’s stock had a trading volume of 380,175 shares, compared to its average volume of 1,610,858. Intuit Inc. has a twelve month low of $352.63 and a twelve month high of $558.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $150.27 billion, a PE ratio of 63.46, a PEG ratio of 3.32 and a beta of 1.19. The firm’s 50 day moving average is $509.54 and its two-hundred day moving average is $460.33.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, beating 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 company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the prior year, the company earned $0.22 EPS. Intuit’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 11.25 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Monday, October 9th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.67%. 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 is presently 36.97%.

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.