American Trust Invests $1.13 Million in Intuit Inc. (NASDAQ:INTU)

American Trust acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, according to its most recent filing with the SEC. The fund acquired 1,814 shares of the software maker’s stock, valued at approximately $1,126,000.

Several other large investors have also added to or reduced their stakes in the stock. ORG Partners LLC boosted its holdings in Intuit by 2,214.3% in the 2nd quarter. ORG Partners LLC now owns 162 shares of the software maker’s stock valued at $106,000 after purchasing an additional 155 shares during the period. Assenagon Asset Management S.A. boosted its stake in Intuit by 48.3% during the second quarter. Assenagon Asset Management S.A. now owns 59,541 shares of the software maker’s stock valued at $39,131,000 after buying an additional 19,393 shares during the period. Miracle Mile Advisors LLC grew its position in Intuit by 3.7% during the second quarter. Miracle Mile Advisors LLC now owns 3,647 shares of the software maker’s stock worth $2,397,000 after buying an additional 131 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of Intuit by 6.0% in the 2nd quarter. Portside Wealth Group LLC now owns 498 shares of the software maker’s stock valued at $327,000 after acquiring an additional 28 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Intuit by 279.9% during the 2nd quarter. Blue Trust Inc. now owns 2,063 shares of the software maker’s stock valued at $1,341,000 after acquiring an additional 1,520 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $672.25 on Friday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company’s fifty day moving average price is $639.04 and its 200-day moving average price is $631.28. The stock has a market cap of $188.18 billion, a PE ratio of 65.27, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. Intuit’s payout ratio is currently 40.39%.

Analysts Set New Price Targets

INTU has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Bank of America boosted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 126,732 shares of company stock valued at $81,378,070 over the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Intuit 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.