Private Advisor Group LLC buys 1,287 shares of Intuit Inc. (NASDAQ:INTU)

VaselineSeptember 10, 2024

0 4 minutes read

Private Advisor Group LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 17.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,487 shares of the software maker’s stock after buying an additional 1,287 shares during the quarter. Private Advisor Group LLC’s holdings in Intuit were worth $5,578,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. Intech Investment Management LLC boosted its holdings in shares of Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after acquiring an additional 2,641 shares during the period. Parnassus Investments LLC boosted its stake in Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Intuit by 1.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Finally, Cetera Advisors LLC boosted its position in shares of Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares during the period. Institutional investors own 83.66% of the company’s shares.

Insider activity at Intuit

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the transaction, the insider now owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The disclosure for this sale can be found here. Insiders have sold a total of 41,308 shares of company stock worth $25,070,676 over the last 90 days. Company insiders own 2.90% of the company’s shares.

Intuit stock up 1.9%

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Shares of NASDAQ:INTU opened at $626.99 on Tuesday. The stock’s 50-day moving average price is $637.94 and its 200-day moving average price is $632.08. The company has a current ratio of 1.29, a quick ratio of 1.29, and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The stock has a market cap of $175.74 billion, a P/E ratio of 57.84, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24.

Intuit (NASDAQ:INTU – Get Your Free Report ) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue increased by 17.4% year-on-year. In the same quarter last year, the company earned $0.40 per share. On average, equities analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit raises dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents an annualized dividend of $4.16 and a dividend yield of 0.66%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10. Intuit’s dividend yield is 33.21%.

Analysts set new price targets

INTU has been the subject of several recent analyst reports. Citigroup upped their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Finally, Wells Fargo & Company boosted their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37, according to MarketBeat .

Get the latest report on INTU

Intuit Company Profile

(Free report)

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed individuals and accounting professionals in the United States, Canada and internationally. The company operates in four segments: Small Business and Self-Employed, Consumer, Credit Karma and ProTax.