Smith Salley Wealth Management Has $1.15 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Smith Salley Wealth Management increased its holdings in Intuit Inc. (NASDAQ:INTU) by 4.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,843 shares of the software maker’s stock after purchasing an additional 75 shares during the quarter. Smith Salley Wealth Management’s holdings in Intuit were worth $1,145,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. Brookstone Capital Management lifted its stake in shares of Intuit by 4.7% in the first quarter. Brookstone Capital Management now owns 2,141 shares of the software maker’s stock worth $1,392,000 after acquiring an additional 97 shares during the period. Wealthcare Advisory Partners LLC lifted its position in shares of Intuit by 23.7% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 793 shares of the software maker’s stock worth $515,000 after purchasing an additional 152 shares during the period. Kathmere Capital Management LLC boosted its stake in shares of Intuit by 16.0% in the 1st quarter. Kathmere Capital Management LLC now owns 398 shares of the software maker’s stock valued at $259,000 after purchasing an additional 55 shares during the last quarter. Vicus Capital acquired a new stake in shares of Intuit during the first quarter worth $225,000. Finally, Founders Financial Securities LLC raised its stake in Intuit by 3.8% during the first quarter. Founders Financial Securities LLC now owns 719 shares of the software maker’s stock worth $467,000 after buying an additional 26 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Intuit 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 transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eve B. Burton sold 2,988 shares of the business’s 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on INTU shares. Piper Sandler reiterated an “overweight” rating and set a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Stifel Nicolaus boosted their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Performance

Shares of INTU opened at $609.27 on Friday. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. 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 stock has a 50 day moving average price of $626.86 and a two-hundred day moving average price of $626.63. The firm has a market capitalization of $170.77 billion, a P/E ratio of 58.30, a P/E/G ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.04 earnings per share 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 given a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

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.