Northstar Asset Management Inc. Sells 77 Shares of Intuit Inc. (NASDAQ:INTU)

Northstar Asset Management Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,161 shares of the software maker’s stock after selling 77 shares during the period. Intuit comprises approximately 3.2% of Northstar Asset Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Northstar Asset Management Inc.’s holdings in Intuit were worth $13,141,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC increased its stake in shares of Intuit by 36.1% during the third quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock worth $414,000 after purchasing an additional 177 shares during the period. Crestwood Advisors Group LLC grew its stake in shares of Intuit by 5.7% in the third quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock valued at $1,032,000 after acquiring an additional 90 shares in the last quarter. Pittenger & Anderson Inc. increased its position in Intuit by 20.1% during the third quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock worth $2,323,000 after acquiring an additional 625 shares during the period. Amalgamated Bank raised its stake in Intuit by 7.2% in the 3rd quarter. Amalgamated Bank now owns 63,974 shares of the software maker’s stock worth $39,728,000 after purchasing an additional 4,289 shares in the last quarter. Finally, Sentry Investment Management LLC grew its position in shares of Intuit by 11.6% during the 3rd quarter. Sentry Investment Management LLC now owns 1,360 shares of the software maker’s stock worth $845,000 after purchasing an additional 141 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. 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 worth $35,220,046 over the last quarter. 2.90% of the stock is currently owned by company insiders.

Intuit Price Performance

Intuit stock opened at $618.83 on Wednesday. The firm has a market capitalization of $173.45 billion, a PE ratio of 59.22, a price-to-earnings-growth ratio of 3.04 and a beta of 1.25. Intuit Inc. has a 12-month low of $494.35 and a 12-month high of $676.62. The firm has a 50-day moving average price of $622.80 and a 200-day moving average price of $626.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 39.81%.

Analyst Ratings Changes

INTU has been the topic of a number of analyst reports. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets boosted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Barclays reduced their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley cut shares of 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. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.