Ashton Thomas Private Wealth LLC Has $3.66 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Ashton Thomas Private Wealth LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,898 shares of the software maker’s stock after purchasing an additional 135 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Intuit were worth $3,663,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Arcus Capital Partners LLC bought a new position in shares of Intuit in the 3rd quarter valued at about $710,000. First National Trust Co grew its holdings in Intuit by 6.8% during the third quarter. First National Trust Co now owns 1,067 shares of the software maker’s stock worth $663,000 after purchasing an additional 68 shares during the period. GSA Capital Partners LLP acquired a new stake in Intuit during the third quarter worth approximately $2,269,000. Waverton Investment Management Ltd lifted its position in Intuit by 3.2% during the third quarter. Waverton Investment Management Ltd now owns 256,637 shares of the software maker’s stock worth $159,372,000 after acquiring an additional 7,862 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in Intuit during the third quarter worth approximately $1,539,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated 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 directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was 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. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Price Performance

Shares of Intuit stock opened at $697.35 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market cap of $195.46 billion, a PE ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. Intuit Inc. has a 12-month low of $523.32 and a 12-month high of $698.96. The company’s fifty day simple moving average is $626.88 and its two-hundred day simple moving average is $628.23.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities analysts expect that Intuit Inc. will post 14.04 EPS 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 issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is currently 39.81%.

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.