Intuit Inc. (NASDAQ:INTU) Shares Sold by Northstar Asset Management Inc.

Northstar Asset Management Inc. lowered its stake in Intuit Inc. (NASDAQ:INTU) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,161 shares of the software maker’s stock after selling 77 shares during the quarter. Intuit comprises about 3.2% of Northstar Asset Management Inc.’s portfolio, making the stock its 12th biggest holding. Northstar Asset Management Inc.’s holdings in Intuit were worth $13,141,000 as of its most recent filing with the Securities & Exchange Commission.

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

Intuit Trading Down 0.0 %

NASDAQ INTU opened at $618.83 on Wednesday. The firm has a market capitalization of $173.45 billion, a PE ratio of 59.22, a price-to-earnings-growth ratio of 3.04 and a beta of 1.25. The business’s 50-day moving average price is $622.80 and its two-hundred day moving average price is $626.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $494.35 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.40 earnings per share. On average, analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid 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 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is currently 39.81%.

Analysts Set New Price Targets

INTU has been the subject of several research reports. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 2,461 shares of the company’s 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 transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares in the company, valued at $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 is available at this link. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

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.