Wilkinson Global Asset Management LLC Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Wilkinson Global Asset Management LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,659 shares of the software maker’s stock after selling 1,190 shares during the period. Intuit accounts for about 2.4% of Wilkinson Global Asset Management LLC’s holdings, making the stock its 20th biggest holding. Wilkinson Global Asset Management LLC’s holdings in Intuit were worth $40,153,000 as of its most recent filing with the Securities and Exchange Commission.

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

Intuit Price Performance

Shares of NASDAQ INTU opened at $648.39 on Thursday. The stock has a market cap of $181.74 billion, a P/E ratio of 62.05, a P/E/G ratio of 3.03 and a beta of 1.25. The firm’s 50-day simple moving average is $623.43 and its 200 day simple moving average is $626.96. Intuit Inc. has a fifty-two week low of $506.97 and a fifty-two week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted 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 company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is presently 39.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Bank of America increased 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. Stifel Nicolaus boosted their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. Four research 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, Intuit has an average rating of “Moderate Buy” and an average price target of $735.71.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. 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. Company insiders own 2.90% of the company’s stock.

About Intuit

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.