Regent Peak Wealth Advisors LLC Purchases 74 Shares of Intuit Inc. (NASDAQ:INTU)

Regent Peak Wealth Advisors LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,232 shares of the software maker’s stock after purchasing an additional 74 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Intuit were worth $765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC acquired a new stake in Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. bought a new position in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Intuit in the second quarter valued at $35,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the 2nd quarter worth about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price for the company. Barclays lowered their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Price Performance

Shares of INTU traded down $6.70 during midday trading on Wednesday, hitting $611.19. The company’s stock had a trading volume of 301,584 shares, compared to its average volume of 1,322,068. The company’s fifty day simple moving average is $631.08 and its two-hundred day simple moving average is $627.98. The stock has a market capitalization of $170.86 billion, a price-to-earnings ratio of 57.00, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

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

Intuit Increases Dividend

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

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at approximately $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

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.