Sunbelt Securities Inc. Buys 844 Shares of Intuit Inc. (NASDAQ:INTU)

Posted by Defense World Staff on Mar 16th, 2023

Intuit logo Sunbelt Securities Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 41.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,860 shares of the software maker’s stock after buying an additional 844 shares during the quarter. Sunbelt Securities Inc.’s holdings in Intuit were worth $1,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Altshuler Shaham Ltd acquired a new stake in shares of Intuit during the third quarter worth $25,000. SRS Capital Advisors Inc. lifted its holdings in shares of Intuit by 81.0% during the second quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock worth $29,000 after buying an additional 34 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Intuit during the third quarter worth $49,000. Eagle Bay Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth $52,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Intuit by 23.8% during the third quarter. Hillsdale Investment Management Inc. now owns 161 shares of the software maker’s stock worth $62,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 82.65% of the company’s stock.

Insider Transactions at Intuit

In other news, CFO Michelle M. Clatterbuck sold 545 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $421.38, for a total transaction of $229,652.10. Following the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at $568,863. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Michelle M. Clatterbuck sold 545 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $421.38, for a total transaction of $229,652.10. Following the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at $568,863. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total value of $206,580.00. Following the completion of the sale, the chief accounting officer now owns 1,781 shares in the company, valued at $735,837.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,925 shares of company stock worth $3,258,123. Insiders own 3.18% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. UBS Group assumed coverage on Intuit in a report on Wednesday. They set a “neutral” rating for the company. BMO Capital Markets boosted their price target on Intuit from $448.00 to $462.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Deutsche Bank Aktiengesellschaft dropped their price target on Intuit from $560.00 to $525.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Bank of America dropped their price target on Intuit from $500.00 to $475.00 and set a “buy” rating for the company in a research note on Wednesday, November 30th. Finally, Morgan Stanley dropped their price target on Intuit from $550.00 to $520.00 and set an “overweight” rating for the company in a research note on Tuesday, November 22nd. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $486.50.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU opened at $406.32 on Thursday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.42. The company has a market cap of $113.99 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 2.92 and a beta of 1.16. Intuit Inc. has a 12 month low of $339.36 and a 12 month high of $507.71. The stock has a 50-day moving average price of $407.18 and a two-hundred day moving average price of $404.27.

Intuit (NASDAQ:INTU – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The software maker reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.76. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Intuit had a return on equity of 14.89% and a net margin of 14.22%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.67 earnings per share. As a group, analysts forecast that Intuit Inc. will post 9.04 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 18th. Stockholders of record on Monday, April 10th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, April 6th. Intuit’s dividend payout ratio (DPR) is currently 45.75%.

Intuit Company Profile

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.