Intuit Inc. (NASDAQ:INTU) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 130.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,319 shares of the software maker’s stock after buying an additional 1,312 shares during the period. Circle Wealth Management LLC’s holdings in Intuit were worth $1,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co raised its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after acquiring an additional 16 shares during the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. Truvestments Capital LLC boosted its holdings in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the last quarter. Finally, PFG Investments LLC grew its position in shares of Intuit by 1.1% in the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 130,265 shares of company stock worth $83,336,625 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Up 0.9 %

Shares of NASDAQ:INTU opened at $641.73 on Friday. The company’s 50-day moving average price is $634.10 and its 200 day moving average price is $631.46. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a market cap of $179.71 billion, a PE ratio of 62.30, a P/E/G ratio of 3.14 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

Several analysts have commented on INTU shares. Morgan Stanley lifted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. 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 research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, Piper Sandler decreased their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

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.