Catalytic Wealth RIA LLC Raises Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Catalytic Wealth RIA LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 46.4% in the third quarter, HoldingsChannel reports. The firm owned 1,240 shares of the software maker’s stock after buying an additional 393 shares during the period. Catalytic Wealth RIA LLC’s holdings in Intuit were worth $770,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in INTU. Fortitude Family Office LLC raised its stake in Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co raised its stake in Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC raised its stake in Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares during the last quarter. PFG Investments LLC raised its stake in Intuit by 1.1% in the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after buying an additional 17 shares during the last quarter. Finally, Plancorp LLC raised its stake in Intuit by 2.0% in the second quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on 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 owns 452 shares in the company, valued at $279,010.56. 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 is available through the SEC website. In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTU. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Barclays reduced their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Finally, Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

Shares of Intuit stock opened at $697.35 on Tuesday. Intuit Inc. has a one year low of $523.32 and a one year high of $698.96. The company has a market cap of $195.46 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 3.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50 day moving average price is $625.54 and its 200 day moving average price is $627.73.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’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 year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 39.81%.

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.