Intuit Inc. (NASDAQ:INTU) Shares Purchased by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. lifted its stake in Intuit Inc. (NASDAQ:INTU) by 10.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,122 shares of the software maker’s stock after purchasing an additional 3,503 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Intuit were worth $23,053,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit during the second quarter worth about $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the second quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit in the 2nd quarter worth approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of Intuit stock traded down $2.66 during trading hours on Thursday, reaching $636.17. 1,375,963 shares of the company’s stock were exchanged, compared to its average volume of 1,366,323. The business has a fifty day moving average of $634.52 and a two-hundred day moving average of $631.32. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $178.15 billion, a P/E ratio of 61.76, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 earnings per share. As a group, research analysts predict that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s payout ratio is currently 40.39%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler decreased their price objective on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays lowered their target price on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Bank of America lifted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold a total of 130,265 shares of company stock valued at $83,336,625 over the last 90 days. 2.90% of the stock is owned by company 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.