Intuit Inc. (NASDAQ:INTU) Shares Acquired by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 28.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,066 shares of the software maker’s stock after buying an additional 237 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Intuit were worth $701,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of INTU. LGT Financial Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit in the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Intuit in the 2nd quarter valued at about $35,000. Sachetta LLC purchased a new position in shares of Intuit in the 4th quarter valued at about $39,000. Finally, J.Safra Asset Management Corp purchased a new position in shares of Intuit in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Barclays cut their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Wells Fargo & Company lifted their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $768.00 price objective (up from $760.00) on shares of Intuit in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,940 shares of company stock worth $10,721,252. Insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.4 %

Shares of NASDAQ INTU opened at $655.31 on Friday. The company has a 50 day simple moving average of $636.63 and a 200-day simple moving average of $631.75. The company has a market capitalization of $183.68 billion, a P/E ratio of 60.45, a P/E/G ratio of 3.14 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 EPS. On average, equities research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 33.21%.

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.