Raymond James Trust N.A. Grows Stock Position in Intuit Inc. (NASDAQ:INTU)

Raymond James Trust N.A. boosted its position in Intuit Inc. (NASDAQ:INTUGet Rating) by 0.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,685 shares of the software maker’s stock after purchasing an additional 67 shares during the period. Raymond James Trust N.A.’s holdings in Intuit were worth $3,733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Castleview Partners LLC purchased a new position in shares of Intuit in the fourth quarter valued at $25,000. San Luis Wealth Advisors LLC purchased a new position in shares of Intuit in the first quarter valued at $26,000. Comprehensive Financial Consultants Institutional Inc. purchased a new position in shares of Intuit in the fourth quarter valued at $28,000. Activest Wealth Management purchased a new position in shares of Intuit in the first quarter valued at $29,000. Finally, Motco purchased a new position in shares of Intuit in the first quarter valued at $45,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Michelle M. Clatterbuck sold 6,768 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the transaction, the chief financial officer now owns 1,350 shares in the company, valued at approximately $607,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Michelle M. Clatterbuck sold 6,768 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the transaction, the chief financial officer now owns 1,350 shares in the company, valued at approximately $607,500. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $463.21, for a total value of $10,306,422.50. Following the transaction, the chief executive officer now owns 60,208 shares in the company, valued at approximately $27,888,947.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,318 shares of company stock valued at $18,027,628. Insiders own 3.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. Piper Sandler lifted their price target on Intuit from $500.00 to $553.00 and gave the company an “overweight” rating in a research report on Wednesday, August 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intuit from $525.00 to $560.00 in a research note on Wednesday, August 24th. Citigroup initiated coverage on Intuit in a research note on Thursday, September 1st. They set a “buy” rating and a $538.00 price objective for the company. Moffett Nathanson initiated coverage on Intuit in a research note on Thursday. They set an “outperform” rating and a $500.00 price objective for the company. Finally, Barclays lifted their price objective on Intuit from $580.00 to $585.00 and gave the company an “overweight” rating in a research note on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $566.89.

Intuit Trading Down 2.9 %

NASDAQ INTU opened at $396.71 on Friday. Intuit Inc. has a 1-year low of $339.36 and a 1-year high of $716.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The stock has a 50-day moving average of $442.39 and a 200-day moving average of $429.18. The firm has a market cap of $111.82 billion, a PE ratio of 54.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last released its earnings results on Tuesday, August 23rd. The software maker reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same period last year, the firm posted $1.28 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 9.1 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend is Thursday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.68. Intuit’s payout ratio is 37.52%.

About Intuit

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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