Thrive Wealth Management LLC has a $1.24M stock position in Intuit Inc. (NASDAQ:INTU)

Thrive Wealth Management LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,992 shares of the software maker’s stock after selling 55 shares during the quarter. Thrive Wealth Management LLC’s holdings in Intuit were worth $1,237,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit in the second quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in Intuit in the second quarter valued at about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in Intuit in the second quarter valued at $39,000. Institutional investors own 83.66% of the company’s shares.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated 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 directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the company’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 owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,297 shares of company stock worth $32,750,926. 2.90% of shares are held by insiders.

Analyst upgrades and downgrades

Several brokerages have recently commented on INTU. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th . Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Barclays decreased their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $735.71, based on data from MarketBeat.

Read our latest report on INTU

Intuit Price Performance

Shares of Intuit stock traded up $6.86 on Friday, reaching $610.67. The company’s stock had a trading volume of 1,220,223 shares, compared to its average volume of 1,330,014. The company has a market cap of $170.71 billion, a P/E ratio of 56.33, a PEG ratio of 3.13 and a beta of 1.24. Intuit Inc. it has a 52-week low of $473.56 and a 52-week high of $676.62. The stock has a 50-day moving average price of $632.84 and a 200-day moving average price of $629.59. The company has a quick ratio of 1.29, a current ratio of 1.29, and a debt-to-equity ratio of 0.30.

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 for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue rose 17.4% year over year. During the same period in the previous year, the business posted EPS of $0.40. Analysts expect Intuit Inc. will record 14.07 EPS for the current year.

Intuit raises dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents an annualized dividend of $4.16 and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.

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