Dearborn Partners LLC Has $34.92 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Dearborn Partners LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,238 shares of the software maker’s stock after selling 2,123 shares during the quarter. Dearborn Partners LLC’s holdings in Intuit were worth $34,924,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in shares of Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit in the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in Intuit in the 2nd quarter worth about $35,000. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on 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 0.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction 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. The trade was a 14.83 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $700.76 on Friday. The stock has a 50 day moving average of $630.03 and a 200 day moving average of $629.21. The company has a market capitalization of $196.42 billion, a price-to-earnings ratio of 67.06, a PEG ratio of 3.45 and a beta of 1.25. Intuit Inc. has a 12 month low of $552.68 and a 12 month high of $714.78. 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 (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates 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 period last year, the firm posted $0.40 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.59%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTU. Susquehanna restated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Piper Sandler restated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus upped their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.