Carnegie Capital Asset Management LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 17.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,969 shares of the software maker’s stock after buying an additional 299 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Intuit were worth $966,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC purchased a new stake in Intuit during the 4th quarter valued at $25,000. San Luis Wealth Advisors LLC purchased a new stake in shares of Intuit in the first quarter valued at $26,000. Comprehensive Financial Consultants Institutional Inc. bought a new stake in shares of Intuit in the 4th quarter worth about $28,000. Activest Wealth Management purchased a new position in shares of Intuit during the 1st quarter worth about $29,000. Finally, Motco purchased a new stake in Intuit in the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.
Intuit Stock Down 2.9 %
Shares of Intuit stock opened at $396.71 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a market cap of $111.82 billion, a P/E ratio of 54.72, a PEG ratio of 2.81 and a beta of 1.19. The firm’s 50 day moving average price is $442.39 and its 200-day moving average price is $429.18. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $716.86.
Intuit Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be issued a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $3.12 annualized dividend and a dividend yield of 0.79%. This is an increase from Intuit’s previous quarterly dividend of $0.68. Intuit’s dividend payout ratio is 37.52%.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. KeyCorp boosted their target price on Intuit from $475.00 to $525.00 and gave the company an “overweight” rating in a research report on Wednesday, August 24th. Moffett Nathanson began coverage on Intuit in a research report on Thursday. They issued an “outperform” rating and a $500.00 price objective on the stock. Stifel Nicolaus boosted their target price on shares of Intuit from $465.00 to $525.00 and gave the company a “buy” rating in a research note on Thursday, August 18th. Oppenheimer upped their price target on shares of Intuit from $476.00 to $516.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. Finally, BMO Capital Markets lifted their price objective on shares of Intuit from $475.00 to $533.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Two investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $566.89.
Insider Activity at Intuit
In other Intuit news, CEO Sasan K. Goodarzi sold 22,250 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $463.21, for a total transaction of $10,306,422.50. Following the sale, the chief executive officer now owns 60,208 shares in the company, valued at approximately $27,888,947.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Michelle M. Clatterbuck sold 1,791 shares of the firm’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $462.12, for a total transaction of $827,656.92. Following the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at approximately $623,862. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the company’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the transaction, the chief executive officer now directly owns 60,208 shares of the company’s stock, valued at approximately $27,888,947.68. The disclosure for this sale can be found here. Insiders sold 39,318 shares of company stock valued at $18,027,628 in the last three months. 3.27% of the stock is owned by insiders.
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 ProConnect.
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