Stage Harbor Financial LLC Sells 40 Shares of Intuit Inc. (NASDAQ:INTU)

Stage Harbor Financial LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 345 shares of the software maker’s stock after selling 40 shares during the quarter. Stage Harbor Financial LLC’s holdings in Intuit were worth $213,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. LGT Financial Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Intuit during the 2nd quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in Intuit in the 2nd quarter worth approximately $39,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, 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 Securities & Exchange Commission, which is available through this link. In other news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Intuit Trading Down 1.1 %

Shares of INTU stock opened at $611.05 on Wednesday. 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 business has a 50-day moving average of $631.08 and a 200 day moving average of $627.98. The stock has a market capitalization of $170.82 billion, a PE ratio of 57.00, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is presently 38.38%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on INTU shares. Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Jefferies Financial Group upped their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada assumed coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Intuit currently has an average 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.