Northwest Investment Counselors LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Northwest Investment Counselors LLC acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44 shares of the software maker’s stock, valued at approximately $27,000.

A number of other large investors have also recently made changes to their positions in the stock. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit in the second quarter worth about $35,000. Finally, Trifecta Capital Advisors LLC boosted its stake in shares of Intuit by 145.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after acquiring an additional 35 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In related 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 775 shares of Intuit 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 completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This trade 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 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on INTU. Barclays cut their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Down 0.7 %

INTU stock opened at $609.59 on Wednesday. The company’s 50 day moving average is $629.40 and its two-hundred day moving average is $627.34. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $170.41 billion, a P/E ratio of 56.24, a PEG ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $3.08 billion. During the same quarter last year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Intuit Company 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.