Catalina Capital Group LLC Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Catalina Capital Group LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 14.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 946 shares of the software maker’s stock after acquiring an additional 120 shares during the quarter. Catalina Capital Group LLC’s holdings in Intuit were worth $587,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC raised its holdings in Intuit by 36.1% in the third quarter. Avidian Wealth Enterprises LLC now owns 667 shares of the software maker’s stock worth $414,000 after purchasing an additional 177 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Intuit by 5.7% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,663 shares of the software maker’s stock worth $1,032,000 after acquiring an additional 90 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in Intuit by 20.1% during the third quarter. Pittenger & Anderson Inc. now owns 3,741 shares of the software maker’s stock valued at $2,323,000 after acquiring an additional 625 shares during the last quarter. Amalgamated Bank boosted its stake in Intuit by 7.2% in the third quarter. Amalgamated Bank now owns 63,974 shares of the software maker’s stock valued at $39,728,000 after acquiring an additional 4,289 shares in the last quarter. Finally, Sentry Investment Management LLC grew its holdings in Intuit by 11.6% in the third quarter. Sentry Investment Management LLC now owns 1,360 shares of the software maker’s stock worth $845,000 after purchasing an additional 141 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. Four equities research 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 currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Price Performance

Intuit stock opened at $618.83 on Wednesday. The stock has a market capitalization of $173.45 billion, a P/E ratio of 59.22, a P/E/G ratio of 3.04 and a beta of 1.25. The company’s fifty day moving average price is $622.80 and its 200 day moving average price is $626.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 1 year low of $494.35 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. 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 39.81%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of the firm’s 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of the company’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 sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

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.