Manchester Capital Management LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,433 shares of the software maker’s stock after buying an additional 196 shares during the quarter. Manchester Capital Management LLC’s holdings in Intuit were worth $1,446,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Group Wealth Management LLC bought a new stake in Intuit in the second quarter worth $25,000. Financial Management Professionals Inc. bought a new stake in shares of Intuit during the second quarter worth $26,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Intuit during the second quarter worth $27,000. Crewe Advisors LLC bought a new stake in shares of Intuit during the third quarter worth $30,000. Finally, Cerebellum GP LLC bought a new stake in shares of Intuit during the second quarter worth $32,000. Institutional investors own 85.52% of the company’s stock.
INTU opened at $318.51 on Thursday. The business’s 50-day moving average is $326.06 and its two-hundred day moving average is $301.60. Intuit Inc. has a 1 year low of $187.68 and a 1 year high of $360.00. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 2.26. The firm has a market capitalization of $83.39 billion, a PE ratio of 46.03, a price-to-earnings-growth ratio of 3.25 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 19th. Stockholders of record on Monday, October 12th were paid a dividend of $0.59 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, October 8th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. Intuit’s payout ratio is presently 35.98%.
In other news, CEO Sasan K. Goodarzi sold 161,258 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $345.66, for a total transaction of $55,740,440.28. Following the sale, the chief executive officer now owns 154,306 shares in the company, valued at $53,337,411.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Brad D. Smith sold 18,773 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $342.01, for a total value of $6,420,553.73. Following the sale, the chairman now owns 304,706 shares in the company, valued at approximately $104,212,499.06. The disclosure for this sale can be found here. Insiders have sold 244,742 shares of company stock worth $83,471,109 in the last 90 days. Insiders own 4.09% of the company’s stock.
Several analysts have recently weighed in on the company. Guggenheim lifted their target price on Intuit from $320.00 to $395.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Argus lifted their target price on Intuit from $325.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Royal Bank of Canada lifted their target price on Intuit from $315.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 26th. KeyCorp lifted their price objective on Intuit from $315.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, August 24th. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $315.00 to $400.00 in a report on Monday, October 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $365.33.
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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.
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