Intuit Inc. (NASDAQ:INTU) Shares Sold by Carderock Capital Management Inc.

Carderock Capital Management Inc. decreased its stake in Intuit Inc. (NASDAQ:INTU) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,935 shares of the software maker’s stock after selling 95 shares during the period. Carderock Capital Management Inc.’s holdings in Intuit were worth $6,791,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Intuit by 1.0% in the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after buying an additional 56,370 shares in the last quarter. Finally, Capital World Investors raised its position in Intuit by 1.0% during the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after buying an additional 12,068 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Down 1.4 %

INTU stock opened at $609.39 on Thursday. The company’s 50 day moving average price is $631.07 and its two-hundred day moving average price is $627.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The company has a market capitalization of $170.35 billion, a PE ratio of 56.22, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

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. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the company posted $0.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. 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. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % 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 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on INTU. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Jefferies Financial Group boosted their target price on shares of Intuit from $770.00 to $790.00 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. Finally, Piper Sandler restated an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.