Alta Wealth Advisors LLC Has $734,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Alta Wealth Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,182 shares of the software maker’s stock after buying an additional 30 shares during the quarter. Alta Wealth Advisors LLC’s holdings in Intuit were worth $734,000 as of its most recent filing with the Securities and Exchange Commission.

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

Intuit Stock Up 0.7 %

Shares of INTU opened at $613.29 on Friday. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock has a market cap of $171.44 billion, a price-to-earnings ratio of 56.58, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a 50-day moving average price of $630.40 and a two-hundred day moving average price of $627.54. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. Equities analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal 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 is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on INTU shares. Bank of America raised their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Citigroup raised their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada started coverage on shares of Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Finally, Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. 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 accessible through this link. In other news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

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.