Stephens Inc. AR Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Stephens Inc. AR raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,156 shares of the software maker’s stock after acquiring an additional 193 shares during the period. Stephens Inc. AR’s holdings in Intuit were worth $7,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and 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 $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new position in shares of Intuit during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.9 %

Intuit stock opened at $621.74 on Friday. The firm has a market cap of $174.27 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 52 week low of $489.55 and a 52 week high of $676.62. The business’s 50-day moving average price is $622.92 and its 200 day moving average price is $626.44. 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 (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

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

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays dropped their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Stifel Nicolaus upped 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. Finally, Piper Sandler restated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. 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. Company insiders own 2.90% of the company’s stock.

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.