Greenleaf Trust Acquires 147 Shares of Intuit Inc. (NASDAQ:INTU)

Greenleaf Trust boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,151 shares of the software maker’s stock after purchasing an additional 147 shares during the quarter. Greenleaf Trust’s holdings in Intuit were worth $5,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 period. Legal & General Group Plc grew its holdings in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after purchasing an additional 56,370 shares in the last quarter. Finally, Capital World Investors boosted its stake in Intuit by 1.0% in 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 in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 in the last ninety days. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 target price on shares of Intuit in a report on Friday, September 27th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Barclays lowered their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Price Performance

NASDAQ INTU traded down $1.00 during trading on Wednesday, reaching $608.59. The company’s stock had a trading volume of 49,838 shares, compared to its average volume of 1,316,290. The stock has a market capitalization of $170.13 billion, a PE ratio of 55.99, a P/E/G ratio of 3.04 and a beta of 1.24. 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 firm has a fifty day moving average of $629.40 and a 200 day moving average of $627.34. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

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

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.