Focus Financial Network Inc. Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Focus Financial Network Inc. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,165 shares of the software maker’s stock after selling 85 shares during the period. Focus Financial Network Inc.’s holdings in Intuit were worth $1,344,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC purchased a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC acquired a new position in Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Intuit in the 2nd quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents 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 Intuit news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last 90 days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a research note on Friday, September 27th. Finally, JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

Intuit stock opened at $621.74 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 12 month low of $489.55 and a 12 month high of $676.62. The company has a fifty day moving average price of $622.92 and a two-hundred day moving average price of $626.44. The company has a market cap of $174.27 billion, a PE ratio of 59.50, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly 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. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 39.81%.

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.