RFG Holdings Inc. Raises Holdings in Intuit Inc. (NASDAQ:INTU)

RFG Holdings Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 11.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,055 shares of the software maker’s stock after buying an additional 107 shares during the period. Intuit comprises approximately 0.2% of RFG Holdings Inc.’s holdings, making the stock its 29th biggest position. RFG Holdings Inc.’s holdings in Intuit were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new position in Intuit during the second quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit during the second quarter worth $35,000. Finally, Trifecta Capital Advisors LLC grew its holdings in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $616.68 on Friday. The firm has a 50 day moving average of $630.68 and a two-hundred day moving average of $628.66. The stock has a market capitalization of $172.39 billion, a PE ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the business posted $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 38.38%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on INTU. Jefferies Financial Group lifted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada began coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price for the company. Finally, Barclays decreased their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. 2.90% of the stock is owned by insiders.

Intuit 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.