Benjamin Edwards Inc. Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Benjamin Edwards Inc. raised its position in Intuit Inc. (NASDAQ:INTU) by 2,099.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,254 shares of the software maker’s stock after buying an additional 51,787 shares during the period. Benjamin Edwards Inc.’s holdings in Intuit were worth $33,704,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter valued at approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of Intuit stock opened at $641.73 on Monday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a market cap of $179.71 billion, a PE ratio of 62.30, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $634.10 and a 200-day simple moving average of $631.26.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s payout ratio is currently 40.39%.

Analysts Set New Price Targets

INTU has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Piper Sandler cut their target price on Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Buying and Selling at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 transaction of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 130,265 shares of company stock worth $83,336,625 over the last 90 days. Insiders own 2.90% of the company’s stock.

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.