Leavell Investment Management Inc. Sells 42 Shares of Intuit Inc. (NASDAQ:INTU)

Leavell Investment Management Inc. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,328 shares of the software maker’s stock after selling 42 shares during the quarter. Leavell Investment Management Inc.’s holdings in Intuit were worth $825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC raised its position in Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the period. GAMMA Investing LLC increased its position in shares of Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares during the last quarter. Harvest Portfolios Group Inc. raised its holdings in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the period. Cetera Advisors LLC lifted its position in Intuit by 33.4% in the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after buying an additional 2,655 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Intuit by 13.4% during the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after buying an additional 1,328 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 1.5 %

NASDAQ:INTU opened at $684.22 on Monday. The firm has a 50-day simple moving average of $625.54 and a 200-day simple moving average of $627.78. Intuit Inc. has a one year low of $513.97 and a one year high of $688.88. The firm has a market cap of $191.78 billion, a P/E ratio of 65.48, a P/E/G ratio of 3.34 and a beta of 1.25. 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 (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.61%. Intuit’s payout ratio is currently 39.81%.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of 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 SEC, which is available through this link. In related news, insider Scott D. Cook sold 2,461 shares of the business’s 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INTU. Piper Sandler reissued an “overweight” rating and issued a $768.00 target price on shares of Intuit in a research note on Friday, September 27th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.