Intuit Inc. (NASDAQ:INTU) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 0.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,911 shares of the software maker’s stock after selling 53 shares during the quarter. Logan Capital Management Inc.’s holdings in Intuit were worth $4,292,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INTU. Portside Wealth Group LLC lifted its position in Intuit by 6.0% during the second quarter. Portside Wealth Group LLC now owns 498 shares of the software maker’s stock valued at $327,000 after purchasing an additional 28 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Intuit in the 2nd quarter valued at about $184,982,000. KFG Wealth Management LLC boosted its stake in shares of Intuit by 3.8% in the second quarter. KFG Wealth Management LLC now owns 840 shares of the software maker’s stock worth $552,000 after buying an additional 31 shares during the last quarter. Stokes Capital Advisors LLC acquired a new stake in Intuit during the second quarter worth about $3,578,000. Finally, Riverwater Partners LLC raised its position in Intuit by 8.3% during the second quarter. Riverwater Partners LLC now owns 708 shares of the software maker’s stock valued at $465,000 after acquiring an additional 54 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred 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 owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 150,542 shares of company stock worth $97,235,054 over the last ninety days. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. Piper Sandler lowered their price objective on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Barclays decreased their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Trading Down 2.4 %

Shares of INTU stock opened at $656.45 on Friday. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s fifty day moving average is $639.96 and its two-hundred day moving average is $631.62. The firm has a market capitalization of $183.75 billion, a P/E ratio of 63.73, a PEG ratio of 3.31 and a beta of 1.24.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

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.