XML Financial LLC Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

XML Financial LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 44.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 329 shares of the software maker’s stock after selling 262 shares during the quarter. XML Financial LLC’s holdings in Intuit were worth $204,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter valued at $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new position in Intuit in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the 2nd quarter valued at $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.9 %

INTU opened at $697.35 on Tuesday. Intuit Inc. has a twelve month low of $523.32 and a twelve month high of $698.96. The firm has a market cap of $195.46 billion, a P/E ratio of 65.48, a price-to-earnings-growth ratio of 3.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The business has a 50 day moving average price of $625.54 and a 200 day moving average price of $627.73.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business posted $0.40 earnings per share. Research analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.60%. 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. Intuit’s dividend payout ratio is 39.81%.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Eve B. Burton sold 2,988 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. 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 worth $35,220,046 over the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INTU shares. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler restated an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a report on Friday, September 27th. Bank of America lifted 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. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” 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 reduced their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average 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.