Intuit Inc. (NASDAQ:INTU) Stock Position Lowered by Taurus Asset Management LLC

Taurus Asset Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 52,519 shares of the software maker’s stock after selling 230 shares during the period. Intuit makes up about 3.2% of Taurus Asset Management LLC’s holdings, making the stock its 8th largest holding. Taurus Asset Management LLC’s holdings in Intuit were worth $32,614,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Harvest Portfolios Group Inc. increased its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the period. Cetera Advisors LLC increased its holdings in Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after purchasing an additional 2,655 shares during the last quarter. Park Avenue Securities LLC raised its position in Intuit by 13.4% in the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock valued at $7,398,000 after purchasing an additional 1,328 shares during the period. Finally, BDF Gestion purchased a new position in shares of Intuit during the second quarter worth $7,196,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction 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 represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Down 1.8 %

NASDAQ INTU opened at $687.87 on Monday. The firm’s fifty day moving average price is $633.08 and its 200 day moving average price is $630.19. Intuit Inc. has a 12 month low of $552.68 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25.

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 business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, sell-side analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s dividend payout ratio (DPR) is 39.81%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus increased their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America raised 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. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Finally, Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. 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 price target of $739.24.

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.