Intuit Inc. (NASDAQ:INTU) Shares Bought by Thrive Wealth Management LLC

Thrive Wealth Management LLC raised its stake in Intuit Inc. (NASDAQ:INTU) by 75.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,324 shares of the software maker’s stock after acquiring an additional 998 shares during the quarter. Thrive Wealth Management LLC’s holdings in Intuit were worth $1,065,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Journey Advisory Group LLC raised its holdings in shares of Intuit by 2.8% in the first quarter. Journey Advisory Group LLC now owns 878 shares of the software maker’s stock worth $391,000 after acquiring an additional 24 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Intuit by 3.1% in the fourth quarter. SeaCrest Wealth Management LLC now owns 806 shares of the software maker’s stock valued at $314,000 after purchasing an additional 24 shares during the period. City Holding Co. grew its position in shares of Intuit by 0.3% in the first quarter. City Holding Co. now owns 7,383 shares of the software maker’s stock valued at $3,291,000 after purchasing an additional 25 shares during the period. Martin Capital Advisors LLP grew its position in shares of Intuit by 0.5% in the first quarter. Martin Capital Advisors LLP now owns 5,523 shares of the software maker’s stock valued at $2,462,000 after purchasing an additional 25 shares during the period. Finally, Fairfield Bush & CO. grew its position in shares of Intuit by 0.6% in the fourth quarter. Fairfield Bush & CO. now owns 4,456 shares of the software maker’s stock valued at $1,734,000 after purchasing an additional 26 shares during the period. 82.63% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

INTU traded down $1.72 on Monday, hitting $536.36. 166,186 shares of the company’s stock were exchanged, compared to its average volume of 1,609,625. The firm has a market cap of $150.34 billion, a PE ratio of 63.46, a P/E/G ratio of 3.32 and a beta of 1.19. Intuit Inc. has a twelve month low of $352.63 and a twelve month high of $558.64. The stock has a fifty day moving average of $509.54 and a two-hundred day moving average of $460.33. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.22. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.64 billion. Intuit had a net margin of 16.59% and a return on equity of 16.61%. Intuit’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. On average, 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 given a $0.90 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.60 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is 36.97%.

Analyst Ratings Changes

INTU has been the subject of a number of recent analyst reports. Oppenheimer lifted their price objective on Intuit from $476.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Evercore ISI lifted their price objective on Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. Credit Suisse Group upped their price target on Intuit from $500.00 to $570.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Stifel Nicolaus boosted their target price on Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, 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. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $551.73.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 8,702 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $552.63, for a total value of $4,808,986.26. Following the completion of the transaction, the executive vice president now owns 32,171 shares in the company, valued at approximately $17,778,659.73. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction, the executive vice president now directly owns 39,896 shares in the company, valued at $17,991,500.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marianna Tessel sold 8,702 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the completion of the transaction, the executive vice president now owns 32,171 shares of the company’s stock, valued at $17,778,659.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,927 shares of company stock worth $44,218,147. Insiders own 3.18% of the company’s stock.

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.