RiverPark Advisors LLC Has $1.65 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

RiverPark Advisors LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 9.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,663 shares of the software maker’s stock after selling 283 shares during the period. Intuit accounts for approximately 1.4% of RiverPark Advisors LLC’s holdings, making the stock its 24th largest position. RiverPark Advisors LLC’s holdings in Intuit were worth $1,654,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the second quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus boosted their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Barclays upped their price objective on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $739.24.

Intuit Trading Down 1.8 %

Shares of INTU stock opened at $687.87 on Friday. Intuit Inc. has a 52-week low of $552.68 and a 52-week high of $714.78. The stock has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a fifty day moving average of $633.08 and a 200-day moving average of $630.09.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The business’s revenue was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 39.81%.

Insider Buying and Selling

In related 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 transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last quarter. 2.90% of the stock is owned by corporate 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.