Signature Estate & Investment Advisors LLC Invests $895,000 in Intuit Inc. (NASDAQ:INTU)

Signature Estate & Investment Advisors LLC bought a new position in Intuit Inc. (NASDAQ:INTU) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,362 shares of the software maker’s stock, valued at approximately $895,000.

Several other large investors have also recently modified their holdings of INTU. Vanguard Group Inc. grew its stake in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Intuit by 2.3% in the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after acquiring an additional 80,517 shares during the last quarter. Norges Bank bought a new stake in shares of Intuit in the 4th quarter worth approximately $2,101,848,000. Finally, Fisher Asset Management LLC lifted its holdings in shares of Intuit by 9.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after acquiring an additional 270,432 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,083 shares of company stock worth $68,467,084. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

INTU has been the subject of a number of recent research reports. Royal Bank of Canada initiated coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. BMO Capital Markets upped their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday. Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target (up from $760.00) on shares of Intuit in a report on Friday. Finally, Wells Fargo & Company upped their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Six equities research analysts have rated the stock with a hold rating and sixteen 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 $716.35.

Intuit Trading Down 0.4 %

NASDAQ INTU traded down $2.39 on Tuesday, hitting $614.73. 162,695 shares of the stock were exchanged, compared to its average volume of 1,330,150. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a fifty day moving average price of $639.56 and a two-hundred day moving average price of $634.12. The firm has a market capitalization of $171.85 billion, a P/E ratio of 56.56, a P/E/G ratio of 3.14 and a beta of 1.23. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

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.