Trueblood Wealth Management LLC Buys 55 Shares of Intuit Inc. (NASDAQ:INTU)

Trueblood Wealth Management LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 3.3% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,708 shares of the software maker’s stock after buying an additional 55 shares during the period. Trueblood Wealth Management LLC’s holdings in Intuit were worth $1,061,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. BayBridge Capital Group LLC lifted its stake in Intuit by 2.1% in the third quarter. BayBridge Capital Group LLC now owns 1,875 shares of the software maker’s stock valued at $1,164,000 after buying an additional 39 shares during the period. Mediolanum International Funds Ltd lifted its stake in Intuit by 1.0% in the third quarter. Mediolanum International Funds Ltd now owns 60,758 shares of the software maker’s stock valued at $37,549,000 after buying an additional 613 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Intuit by 5.9% in the third quarter. Lake Street Advisors Group LLC now owns 4,817 shares of the software maker’s stock valued at $2,991,000 after buying an additional 267 shares during the period. Ballentine Partners LLC increased its position in shares of Intuit by 27.0% during the third quarter. Ballentine Partners LLC now owns 3,805 shares of the software maker’s stock worth $2,363,000 after acquiring an additional 810 shares in the last quarter. Finally, Freedom Day Solutions LLC raised its holdings in shares of Intuit by 0.4% during the third quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock worth $2,599,000 after acquiring an additional 17 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INTU shares. Jefferies Financial Group upped 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. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Barclays lowered their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, Piper Sandler restated an “overweight” rating and set a $768.00 target price on shares of Intuit in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $609.27 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company 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 Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The stock has a 50 day moving average of $627.75 and a 200-day moving average of $627.00.

Intuit (NASDAQ:INTU) last released 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 for the quarter, compared to the consensus estimate 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 company earned $0.40 earnings per share. As a group, equities research analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 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.