Schear Investment Advisers LLC Has $1.10 Million Position in Intuit Inc. (NASDAQ:INTU)

Schear Investment Advisers LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,766 shares of the software maker’s stock after buying an additional 102 shares during the period. Schear Investment Advisers LLC’s holdings in Intuit were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Intuit during the second quarter worth $184,982,000. Ameriprise Financial Inc. lifted its holdings in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Clearbridge Investments LLC boosted its position in Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares during the last quarter. Finally, Seven Post Investment Office LP acquired a new stake in Intuit during the 2nd quarter worth about $107,513,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated 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 sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 89.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $687.87 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. The firm has a 50-day moving average of $633.08 and a 200-day moving average of $630.09. Intuit Inc. has a one year low of $552.68 and a one year high of $714.78. The company has a market cap of $192.80 billion, a P/E ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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 firm 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 revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. Equities research analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 price objective on shares of Intuit in a research report on Friday, September 27th. Barclays boosted their target price on shares of Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research report on Friday. Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $739.24.

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.