Farther Finance Advisors LLC Sells 38 Shares of Intuit Inc. (NASDAQ:INTU)

Farther Finance Advisors LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,372 shares of the software maker’s stock after selling 38 shares during the period. Farther Finance Advisors LLC’s holdings in Intuit were worth $3,336,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Americana Partners LLC boosted its stake in Intuit by 7.3% during the 3rd quarter. Americana Partners LLC now owns 5,506 shares of the software maker’s stock valued at $3,419,000 after purchasing an additional 376 shares during the last quarter. Principal Securities Inc. lifted its holdings in shares of Intuit by 9.6% in the third quarter. Principal Securities Inc. now owns 6,888 shares of the software maker’s stock valued at $4,278,000 after purchasing an additional 606 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Intuit by 1.6% during the third quarter. Stephens Inc. AR now owns 12,156 shares of the software maker’s stock valued at $7,549,000 after buying an additional 193 shares during the last quarter. Oak Ridge Investments LLC boosted its holdings in Intuit by 7.0% during the 3rd quarter. Oak Ridge Investments LLC now owns 15,549 shares of the software maker’s stock worth $9,656,000 after acquiring an additional 1,019 shares during the last quarter. Finally, United Asset Strategies Inc. grew its stake in shares of Intuit by 6.5% in the 3rd quarter. United Asset Strategies Inc. now owns 1,793 shares of the software maker’s stock worth $1,113,000 after acquiring an additional 109 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock valued at $35,220,046 over the last three months. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the topic of a number of recent analyst reports. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Up 1.9 %

INTU stock opened at $621.74 on Friday. Intuit Inc. has a twelve month low of $489.55 and a twelve month high of $676.62. The firm has a market capitalization of $174.27 billion, a PE ratio of 59.50, a PEG ratio of 2.98 and a beta of 1.25. 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 has a 50-day simple moving average of $622.92 and a two-hundred day simple moving average of $626.54.

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

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is 39.81%.

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.