Intuit Inc. (NASDAQ:INTU) Shares Sold by Catalyst Private Wealth LLC

by · The Cerbat Gem

Catalyst Private Wealth LLC lessened its position in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 958 shares of the software maker’s stock after selling 31 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Intuit were worth $595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. International Assets Investment Management LLC lifted its holdings in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares in the last quarter. SG Americas Securities LLC lifted its stake in Intuit by 940.4% in the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after buying an additional 285,328 shares in the last quarter. Vanguard Group Inc. grew its holdings in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after buying an additional 283,291 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit during the 2nd quarter valued at $184,982,000. Finally, Ameriprise Financial Inc. increased its position in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after buying an additional 238,486 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on INTU shares. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays decreased their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, BMO Capital Markets boosted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $735.71.

Get Our Latest Stock Report on INTU

Intuit Stock Down 0.3 %

Shares of NASDAQ:INTU traded down $1.75 during trading on Tuesday, hitting $617.26. The company’s stock had a trading volume of 153,909 shares, compared to its average volume of 1,311,027. Intuit Inc. has a fifty-two week low of $494.35 and a fifty-two week high of $676.62. 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 company has a market capitalization of $173.01 billion, a PE ratio of 59.24, a PEG ratio of 3.04 and a beta of 1.25. The stock’s 50-day moving average price is $622.95 and its two-hundred day moving average price is $626.71.

Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Intuit Company Profile

(Free Report)

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.

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