Eads & Heald Wealth Management Has $1.70 Million Stake in Intuit Inc. (NASDAQ:INTU)

Eads & Heald Wealth Management reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 2,741 shares of the software maker’s stock after selling 52 shares during the quarter. Eads & Heald Wealth Management’s holdings in Intuit were worth $1,702,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in INTU. Vanguard Group Inc. grew its stake in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares during the period. Legal & General Group Plc increased its stake in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Principal Financial Group Inc. boosted its stake in Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after acquiring an additional 56,370 shares in the last quarter. Finally, Capital World Investors grew its holdings in Intuit by 1.0% in the first quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after purchasing an additional 12,068 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INTU. Stifel Nicolaus upped their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $768.00 price target on shares of Intuit in a report on Friday, September 27th. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Barclays cut their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, Jefferies Financial Group upped their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Intuit Price Performance

Intuit stock opened at $621.74 on Friday. Intuit Inc. has a 52 week low of $489.55 and a 52 week high of $676.62. The company’s 50 day moving average price is $622.92 and its two-hundred day moving average price is $626.44. The stock has a market cap of $174.27 billion, a P/E ratio of 59.50, a P/E/G ratio of 3.04 and a beta of 1.24. 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 issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. On average, equities analysts predict 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 given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 39.81%.

Insider Buying and Selling

In other news, 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 completion of 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The stock was 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 owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

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.