ROI Financial Advisors LLC Purchases 208 Shares of Intuit Inc. (NASDAQ:INTU)

14 Nov 2024, 14:04 by Teresa Graham · The Cerbat Gem

ROI Financial Advisors LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 8.4% during the third quarter, Holdings Channel.com reports. The fund owned 2,699 shares of the software maker’s stock after purchasing an additional 208 shares during the quarter. Intuit accounts for about 1.2% of ROI Financial Advisors LLC’s holdings, making the stock its 24th biggest position. ROI Financial Advisors LLC’s holdings in Intuit were worth $1,676,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC lifted its position in Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co boosted its position in shares of Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after acquiring an additional 16 shares in the last quarter. Gemmer Asset Management LLC raised its stake in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after acquiring an additional 16 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 17 shares in the last quarter. Finally, Plancorp LLC grew its holdings in shares of Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, 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 transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.0 %

Shares of NASDAQ INTU opened at $706.25 on Thursday. Intuit Inc. has a one year low of $541.40 and a one year high of $714.78. The business’s fifty day moving average price is $628.37 and its 200-day moving average price is $628.67. The stock has a market capitalization of $197.95 billion, a PE ratio of 67.58, a P/E/G ratio of 3.42 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU – Get Free Report) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm earned $0.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate 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. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 39.81%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTU. Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Jefferies Financial Group increased their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their price target 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. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $735.71.

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About Intuit

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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.