Circle Wealth Management LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Circle Wealth Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 130.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,319 shares of the software maker’s stock after buying an additional 1,312 shares during the period. Circle Wealth Management LLC’s holdings in Intuit were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in INTU. LGT Financial Advisors LLC purchased a new stake in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit in the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at $35,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on INTU shares. Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Price Performance

Shares of Intuit stock opened at $641.73 on Friday. The firm has a market cap of $179.71 billion, a PE ratio of 62.30, a P/E/G ratio of 3.14 and a beta of 1.25. The business has a 50-day moving average price of $634.10 and a 200 day moving average price of $631.46. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 130,265 shares of company stock worth $83,336,625 over the last quarter. 2.90% of the stock is currently owned by company insiders.

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.