Atomi Financial Group Inc. Decreases Position in Intuit Inc. (NASDAQ:INTU)

Atomi Financial Group Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,275 shares of the software maker’s stock after selling 46 shares during the quarter. Atomi Financial Group Inc.’s holdings in Intuit were worth $1,412,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Traveka Wealth LLC lifted its stake in Intuit by 4.6% during the third quarter. Traveka Wealth LLC now owns 567 shares of the software maker’s stock worth $352,000 after purchasing an additional 25 shares during the last quarter. Kesler Norman & Wride LLC purchased a new stake in Intuit during the third quarter worth approximately $1,187,000. Bath Savings Trust Co lifted its stake in Intuit by 0.8% during the third quarter. Bath Savings Trust Co now owns 49,623 shares of the software maker’s stock worth $30,816,000 after purchasing an additional 415 shares during the last quarter. Fulton Bank N.A. lifted its stake in Intuit by 2.6% during the third quarter. Fulton Bank N.A. now owns 1,866 shares of the software maker’s stock worth $1,159,000 after purchasing an additional 47 shares during the last quarter. Finally, Prentice Wealth Management LLC increased its position in Intuit by 93.4% during the third quarter. Prentice Wealth Management LLC now owns 708 shares of the software maker’s stock worth $440,000 after buying an additional 342 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.8 %

Shares of INTU stock opened at $613.37 on Wednesday. The business’s fifty day moving average price is $632.16 and its 200 day moving average price is $629.14. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The firm has a market capitalization of $171.47 billion, a PE ratio of 56.58, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company 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 quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was 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 in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,297 shares of company stock worth $32,750,926. 2.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on INTU. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Royal Bank of Canada began coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Barclays cut their price target on 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 lifted their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.