Elk River Wealth Management LLC Buys 136 Shares of Intuit Inc. (NASDAQ:INTU)

Elk River Wealth Management LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,168 shares of the software maker’s stock after acquiring an additional 136 shares during the period. Intuit accounts for about 1.6% of Elk River Wealth Management LLC’s holdings, making the stock its 18th biggest holding. Elk River Wealth Management LLC’s holdings in Intuit were worth $8,798,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Raleigh Capital Management Inc. increased its stake in shares of Intuit by 20.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 129 shares of the software maker’s stock worth $81,000 after purchasing an additional 22 shares during the last quarter. Virtu Financial LLC acquired a new position in Intuit during the fourth quarter worth approximately $227,000. Integrated Advisors Network LLC raised its stake in Intuit by 6.5% in the fourth quarter. Integrated Advisors Network LLC now owns 1,182 shares of the software maker’s stock valued at $739,000 after buying an additional 72 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $179,000. Finally, EP Wealth Advisors LLC boosted its stake in shares of Intuit by 7.2% during the 4th quarter. EP Wealth Advisors LLC now owns 5,287 shares of the software maker’s stock worth $3,304,000 after acquiring an additional 356 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Citigroup upped their price target on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Piper Sandler restated an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Price Performance

Shares of NASDAQ INTU traded up $1.09 during mid-day trading on Monday, reaching $617.77. The company had a trading volume of 89,752 shares, compared to its average volume of 1,322,910. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The business’s 50-day simple moving average is $630.68 and its 200 day simple moving average is $628.44. 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 firm has a market cap of $172.70 billion, a price-to-earnings ratio of 56.89, a PEG ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is presently 38.38%.

About Intuit

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.