TFB Advisors LLC Acquires 48 Shares of Intuit Inc. (NASDAQ:INTU)

TFB Advisors LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,092 shares of the software maker’s stock after buying an additional 48 shares during the quarter. TFB Advisors LLC’s holdings in Intuit were worth $678,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Csenge Advisory Group grew its holdings in shares of Intuit by 24.9% in the 1st quarter. Csenge Advisory Group now owns 723 shares of the software maker’s stock worth $470,000 after purchasing an additional 144 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Intuit by 7.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 26,708 shares of the software maker’s stock worth $17,360,000 after purchasing an additional 1,952 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Intuit by 3.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,620 shares of the software maker’s stock worth $7,553,000 after purchasing an additional 433 shares during the last quarter. Sustainable Insight Capital Management LLC lifted its position in Intuit by 18.7% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 634 shares of the software maker’s stock worth $412,000 after buying an additional 100 shares in the last quarter. Finally, Allen Investment Management LLC lifted its position in Intuit by 26.8% during the 1st quarter. Allen Investment Management LLC now owns 35,640 shares of the software maker’s stock worth $23,166,000 after buying an additional 7,536 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s 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 $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last quarter. 2.90% of the stock is owned by company insiders.

Intuit Trading Up 4.0 %

INTU stock opened at $674.15 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a fifty day moving average price of $623.43 and a two-hundred day moving average price of $626.96. Intuit Inc. has a one year low of $513.97 and a one year high of $676.62. The stock has a market cap of $188.96 billion, a price-to-earnings ratio of 64.51, a price-to-earnings-growth ratio of 3.03 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS 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 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 for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.62%. Intuit’s payout ratio is presently 39.81%.

Analysts Set New Price Targets

INTU has been the topic of several research reports. BMO Capital Markets upped their price target 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. 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. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $735.71.

About Intuit

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.