Empower Advisory Group LLC Sells 757 Shares of Intuit Inc. (NASDAQ:INTU)

Empower Advisory Group LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 8.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,702 shares of the software maker’s stock after selling 757 shares during the period. Empower Advisory Group LLC’s holdings in Intuit were worth $4,783,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in INTU. LGT Financial Advisors LLC bought a new position in shares of Intuit in the 2nd quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the 2nd quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit in the 2nd quarter worth $35,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Up 1.0 %

Shares of INTU opened at $706.25 on Thursday. Intuit Inc. has a 52 week low of $541.40 and a 52 week high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $197.95 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 3.42 and a beta of 1.25. The stock’s 50-day moving average price is $628.37 and its 200-day moving average price is $628.67.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.59%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Barclays reduced their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

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.