Roberts Wealth Advisors LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Roberts Wealth Advisors LLC lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 2.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,578 shares of the software maker’s stock after purchasing an additional 117 shares during the quarter. Roberts Wealth Advisors LLC’s holdings in Intuit were worth $2,556,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. W.H. Cornerstone Investments Inc. raised its position in Intuit by 4.1% in the 2nd quarter. W.H. Cornerstone Investments Inc. now owns 633 shares of the software maker’s stock worth $290,000 after purchasing an additional 25 shares during the period. American National Bank increased its stake in Intuit by 9.3% in the 2nd quarter. American National Bank now owns 13,294 shares of the software maker’s stock worth $6,091,000 after buying an additional 1,133 shares during the period. Darwin Wealth Management LLC grew its stake in Intuit by 27.5% in the 2nd quarter. Darwin Wealth Management LLC now owns 4,667 shares of the software maker’s stock worth $2,164,000 after acquiring an additional 1,008 shares in the last quarter. Bath Savings Trust Co increased its holdings in Intuit by 4.5% during the 2nd quarter. Bath Savings Trust Co now owns 46,221 shares of the software maker’s stock worth $21,178,000 after purchasing an additional 2,007 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in shares of Intuit during the 2nd quarter worth $392,000. Hedge funds and other institutional investors own 82.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on INTU shares. Mizuho upped their target price on Intuit from $550.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, September 7th. Evercore ISI raised their target price on Intuit from $505.00 to $530.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Credit Suisse Group boosted their price objective on Intuit from $500.00 to $570.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Oppenheimer boosted 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. Finally, Piper Sandler raised their price objective on Intuit from $528.00 to $642.00 and gave the company an “overweight” rating in a report on Monday, September 11th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $551.73.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 53,741 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed 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, CAO Lauren D. Hotz sold 550 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $549.42, for a total transaction of $302,181.00. Following the completion of the sale, the chief accounting officer now owns 2,054 shares in the company, valued at $1,128,508.68. The disclosure for this sale can be found here. Insiders have sold a total of 90,927 shares of company stock worth $44,218,147 over the last quarter. 3.18% of the stock is owned by company insiders.

Intuit Trading Down 1.5 %

INTU stock traded down $8.19 during midday trading on Tuesday, reaching $526.82. 117,291 shares of the company’s stock traded hands, compared to its average volume of 1,605,316. Intuit Inc. has a fifty-two week low of $352.63 and a fifty-two week high of $558.64. The business has a 50-day moving average price of $509.54 and a two-hundred day moving average price of $460.33. The company has a market capitalization of $147.67 billion, a P/E ratio of 63.39, a PEG ratio of 3.26 and a beta of 1.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.47 and a quick ratio of 1.47.

Intuit (NASDAQ:INTU) last released 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 return on equity of 16.61% and a net margin of 16.59%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the business posted $0.22 EPS. Intuit’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 11.25 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 17th. Investors of record on Monday, October 9th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 5th. This is an increase from Intuit’s previous quarterly dividend of $0.78. Intuit’s dividend payout ratio is currently 36.97%.

About Intuit

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.