Walkner Condon Financial Advisors LLC Sells 213 Shares of Intuit Inc. (NASDAQ:INTU)

28 Aug 2024, 23:19 by Michael Walen · The Markets Daily

Walkner Condon Financial Advisors LLC lowered its position in Intuit Inc. (NASDAQ:INTU – Free Report) by 37.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 361 shares of the software maker’s stock after selling 213 shares during the quarter. Walkner Condon Financial Advisors LLC’s holdings in Intuit were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in INTU. DiNuzzo Private Wealth Inc. purchased a new position in Intuit in the 4th quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter worth approximately $26,000. West Branch Capital LLC increased its position in shares of Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $35,000. Finally, Sachetta LLC bought a new stake in shares of Intuit in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.5 %

NASDAQ:INTU traded down $9.28 on Wednesday, reaching $617.04. 1,032,929 shares of the stock traded hands, compared to its average volume of 1,336,271. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a market capitalization of $172.49 billion, a price-to-earnings ratio of 56.92, a PEG ratio of 3.14 and a beta of 1.23. The company’s fifty day simple moving average is $639.89 and its 200 day simple moving average is $633.90. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU – Get Free Report) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities analysts predict that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. Intuit’s payout ratio is currently 33.21%.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Insiders have sold 119,115 shares of company stock valued at $68,487,006 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on INTU shares. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Piper Sandler reissued an “overweight” rating and set a $768.00 price objective (up from $760.00) on shares of Intuit in a research report on Friday, August 23rd. Wells Fargo & Company lifted their target price on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, Stifel Nicolaus increased their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $716.35.

Read Our Latest Report on Intuit

Intuit Company Profile

(Free Report)

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.