Accurate Wealth Management LLC Increases Position in Intuit Inc. (NASDAQ:INTU)

Accurate Wealth Management LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 32.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,503 shares of the software maker’s stock after purchasing an additional 366 shares during the period. Accurate Wealth Management LLC’s holdings in Intuit were worth $929,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the second quarter worth approximately $39,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 0.7 %

Shares of NASDAQ:INTU opened at $613.29 on Friday. The stock has a market capitalization of $171.44 billion, a PE ratio of 56.58, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The firm has a fifty day moving average price of $630.40 and a 200 day moving average price of $627.53. 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 (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during 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%. The business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. Analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 38.38%.

Analysts Set New Price Targets

INTU has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Royal Bank of Canada assumed coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the 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 transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Sandeep Aujla sold 862 shares of the 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 transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

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.