Atlanta Consulting Group Advisors LLC Acquires New Position in Intuit Inc. (NASDAQ:INTU)

Atlanta Consulting Group Advisors LLC acquired a new stake in Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 637 shares of the software maker’s stock, valued at approximately $396,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the second quarter valued at about $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.8 %

INTU opened at $687.87 on Monday. Intuit Inc. has a fifty-two week low of $552.68 and a fifty-two week high of $714.78. The company has a market capitalization of $192.80 billion, a P/E ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s fifty day moving average price is $633.08 and its two-hundred day moving average price is $630.19.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. 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%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. This represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on INTU shares. Barclays upped their price target on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research note on Friday. Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Stifel Nicolaus raised their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Piper Sandler reissued an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $739.24.

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.