Intuit Inc. (NASDAQ:INTU) Shares Acquired by abrdn plc

abrdn plc increased its stake in Intuit Inc. (NASDAQ:INTU) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 305,977 shares of the software maker’s stock after acquiring an additional 15,251 shares during the period. abrdn plc owned approximately 0.11% of Intuit worth $189,984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC purchased a new position in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Intuit in the 2nd quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Up 0.5 %

NASDAQ:INTU opened at $612.09 on Tuesday. Intuit Inc. has a 12-month low of $481.79 and a 12-month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $625.84 and its 200-day simple moving average is $626.51. The firm has a market cap of $171.11 billion, a P/E ratio of 56.47, a PEG ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTU. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company 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 report on Friday, August 23rd. Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target on the stock. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents 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. In other Intuit news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the business’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 in the company, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit 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.