Intuit Inc. (NASDAQ:INTU) Shares Purchased by Savvy Advisors Inc.

Savvy Advisors Inc. increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 142.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,356 shares of the software maker’s stock after acquiring an additional 796 shares during the quarter. Savvy Advisors Inc.’s holdings in Intuit were worth $842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new position in Intuit in the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth $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.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays lowered their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price target on shares of Intuit in a research report on Friday, September 27th. Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Finally, Jefferies Financial Group raised their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Trading Up 1.9 %

NASDAQ:INTU opened at $697.35 on Tuesday. The stock has a fifty day simple moving average of $626.88 and a 200 day simple moving average of $628.23. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $195.46 billion, a price-to-earnings ratio of 66.73, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. Intuit Inc. has a 1-year low of $523.32 and a 1-year high of $698.96.

Intuit (NASDAQ:INTU) last issued its quarterly 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 the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Insiders Place Their Bets

In other Intuit news, 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 transaction of $1,941,811.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. 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.