Arkadios Wealth Advisors Increases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Arkadios Wealth Advisors grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 33.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,943 shares of the software maker’s stock after purchasing an additional 486 shares during the quarter. Arkadios Wealth Advisors’ holdings in Intuit were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in INTU. Fortitude Family Office LLC increased its holdings in Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC lifted its position in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after purchasing an additional 17 shares during the period. Finally, Stonebrook Private Inc. grew its holdings in Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after purchasing an additional 17 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. This trade 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 can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was 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 valued at $35,220,046 in the last ninety days. 2.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INTU. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays lowered their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and issued a $768.00 price objective on shares of Intuit in a research note on Friday, September 27th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada initiated coverage on Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Trading Up 0.9 %

Shares of NASDAQ INTU opened at $609.27 on Monday. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50 day moving average is $626.86 and its two-hundred day moving average is $626.62. The stock has a market capitalization of $170.32 billion, a P/E ratio of 56.21, a PEG ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 analyst estimates 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 quarter in the prior year, the firm posted $0.40 EPS. As a group, research analysts expect 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. Investors of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

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.