Catalina Capital Group LLC Increases Stake in Intuit Inc. (NASDAQ:INTU)

Catalina Capital Group LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 14.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 946 shares of the software maker’s stock after buying an additional 120 shares during the period. Catalina Capital Group LLC’s holdings in Intuit were worth $587,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Avidian Wealth Enterprises LLC raised its holdings in Intuit by 36.1% in the third quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock worth $414,000 after purchasing an additional 177 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in Intuit by 5.7% during the third quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock worth $1,032,000 after acquiring an additional 90 shares in the last quarter. Pittenger & Anderson Inc. boosted its holdings in Intuit by 20.1% in the third quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock worth $2,323,000 after acquiring an additional 625 shares in the last quarter. Amalgamated Bank increased its stake in Intuit by 7.2% during the 3rd quarter. Amalgamated Bank now owns 63,974 shares of the software maker’s stock valued at $39,728,000 after purchasing an additional 4,289 shares in the last quarter. Finally, Sentry Investment Management LLC lifted its position in Intuit by 11.6% in the 3rd quarter. Sentry Investment Management LLC now owns 1,360 shares of the software maker’s stock valued at $845,000 after acquiring an additional 141 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 0.0 %

Shares of NASDAQ:INTU opened at $618.83 on Wednesday. The company has a 50-day moving average price of $622.80 and a 200 day moving average price of $626.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $494.35 and a 12 month high of $676.62. The company has a market cap of $173.45 billion, a price-to-earnings ratio of 59.22, a PEG ratio of 3.04 and a beta of 1.25.

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

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 39.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on INTU shares. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity

In related news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction 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 hyperlink. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by insiders.

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 ProTax.