Bay Colony Advisory Group Inc d b a Bay Colony Advisors Purchases 50 Shares of Intuit Inc. (NASDAQ:INTU)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 971 shares of the software maker’s stock after acquiring an additional 50 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Intuit were worth $603,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Intuit during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on INTU shares. Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America boosted their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays reduced their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. BMO Capital Markets boosted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $735.71.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Up 0.5 %

Shares of NASDAQ:INTU opened at $612.09 on Tuesday. Intuit Inc. has a 1 year low of $481.79 and a 1 year high of $676.62. The stock’s fifty day moving average price is $625.84 and its 200-day moving average price is $626.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $171.11 billion, a P/E ratio of 56.47, a PEG ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. Sell-side analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio is presently 38.38%.

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.