MorganRosel Wealth Management LLC Lowers Stake in Intuit Inc. (NASDAQ:INTU)

MorganRosel Wealth Management LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 16.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138 shares of the software maker’s stock after selling 223 shares during the period. MorganRosel Wealth Management LLC’s holdings in Intuit were worth $707,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LGT Financial Advisors LLC bought a new position in Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC bought a new stake in Intuit during the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp bought a new position in Intuit in the second quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reissued an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Barclays decreased their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Citigroup increased their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada assumed coverage on shares of Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Finally, BMO Capital Markets increased their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Down 0.4 %

INTU opened at $616.68 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $630.68 and its two-hundred day moving average is $628.58. The company has a market capitalization of $172.39 billion, a P/E ratio of 56.89, a PEG ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

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

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.