Savvy Advisors Inc. Has $842,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Savvy Advisors Inc. increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 142.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,356 shares of the software maker’s stock after acquiring an additional 796 shares during the period. Savvy Advisors Inc.’s holdings in Intuit were worth $842,000 as of its most recent SEC filing.

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

Intuit Stock Performance

Shares of INTU stock opened at $697.35 on Tuesday. 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 firm has a fifty day simple moving average of $626.88 and a two-hundred day simple moving average of $628.23. The firm has a market capitalization of $195.46 billion, a PE ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. Intuit Inc. has a 12 month low of $523.32 and a 12 month high of $698.96.

Intuit (NASDAQ:INTU) last released its quarterly earnings results 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 return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase 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 39.81%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of Intuit 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 completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s 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 in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on INTU. Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Barclays dropped their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

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.