Catalytic Wealth RIA LLC Sells 182 Shares of Intuit Inc. (NASDAQ:INTU)

Catalytic Wealth RIA LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 17.7% during the second quarter, HoldingsChannel reports. The fund owned 847 shares of the software maker’s stock after selling 182 shares during the quarter. Catalytic Wealth RIA LLC’s holdings in Intuit were worth $557,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Cultivar Capital Inc. purchased a new stake in shares of Intuit in the second quarter worth about $26,000. West Branch Capital LLC lifted its stake in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Intuit in the 2nd quarter valued at $35,000. J.Safra Asset Management Corp purchased a new position in shares of Intuit during the 2nd quarter valued at $39,000. Finally, Sachetta LLC purchased a new position in shares of Intuit during the 4th quarter valued at $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares in the company, valued at approximately $664,020. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the transaction, the insider now owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction 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 104,367 shares of company stock worth $60,118,991. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Royal Bank of Canada started coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. UBS Group lifted their target price on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research report on Monday, May 20th. Finally, Citigroup increased their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $716.35.

Intuit Trading Up 1.2 %

Intuit stock traded up $7.46 during trading hours on Friday, reaching $630.26. The company had a trading volume of 2,069,467 shares, compared to its average volume of 1,338,575. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a 50-day moving average price of $640.13 and a 200 day moving average price of $633.52. The firm has a market cap of $176.19 billion, a price-to-earnings ratio of 58.14, a P/E/G ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is 38.38%.

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.