Pittenger & Anderson Inc. Has $502,000 Position in Intuit Inc. (NASDAQ:INTU)

Pittenger & Anderson Inc. lifted its holdings in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 52.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,303 shares of the software maker’s stock after purchasing an additional 446 shares during the period. Pittenger & Anderson Inc.’s holdings in Intuit were worth $502,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Segall Bryant & Hamill LLC grew its holdings in shares of Intuit by 0.7% during the fourth quarter. Segall Bryant & Hamill LLC now owns 2,601 shares of the software maker’s stock worth $1,672,000 after purchasing an additional 19 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Intuit by 3.4% during the first quarter. Contravisory Investment Management Inc. now owns 704 shares of the software maker’s stock worth $339,000 after purchasing an additional 23 shares during the last quarter. Cooper Financial Group grew its holdings in shares of Intuit by 4.9% during the first quarter. Cooper Financial Group now owns 511 shares of the software maker’s stock worth $246,000 after purchasing an additional 24 shares during the last quarter. BlueSky Wealth Advisors LLC increased its position in Intuit by 3.2% in the first quarter. BlueSky Wealth Advisors LLC now owns 779 shares of the software maker’s stock worth $375,000 after purchasing an additional 24 shares during the period. Finally, JFS Wealth Advisors LLC increased its position in Intuit by 1.7% in the first quarter. JFS Wealth Advisors LLC now owns 1,532 shares of the software maker’s stock worth $737,000 after purchasing an additional 25 shares during the period. Institutional investors own 83.31% of the company’s stock.

Insider Activity

In other Intuit news, CEO Sasan K. Goodarzi sold 22,250 shares of the firm’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the sale, the chief executive officer now directly owns 60,208 shares of the company’s stock, valued at $27,888,947.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, EVP Varun Krishna sold 7,438 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $450.80, for a total transaction of $3,353,050.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the transaction, the chief executive officer now owns 60,208 shares in the company, valued at approximately $27,888,947.68. The disclosure for this sale can be found here. Insiders have sold 39,318 shares of company stock worth $18,027,628 over the last 90 days. 3.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler lifted their price objective on Intuit from $500.00 to $553.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 24th. Oppenheimer boosted their target price on Intuit from $476.00 to $516.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 24th. KeyCorp boosted their target price on Intuit from $475.00 to $525.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 24th. BMO Capital Markets boosted their target price on Intuit from $475.00 to $533.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 17th. Finally, Citigroup initiated coverage on Intuit in a report on Thursday, September 1st. They set a “buy” rating and a $538.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $566.89.

Intuit Price Performance

Shares of INTU stock opened at $396.71 on Friday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.39. Intuit Inc. has a twelve month low of $339.36 and a twelve month high of $716.86. The company has a market cap of $111.82 billion, a P/E ratio of 54.72, a P/E/G ratio of 2.81 and a beta of 1.19. The business has a fifty day simple moving average of $442.39 and a 200 day simple moving average of $429.18.

Intuit (NASDAQ:INTUGet Rating) last announced its quarterly earnings data on Tuesday, August 23rd. The software maker reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.12. Intuit had a return on equity of 16.47% and a net margin of 16.23%. During the same quarter in the prior year, the company posted $1.28 earnings per share. On average, sell-side analysts forecast that Intuit Inc. will post 9.1 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 18th. Stockholders of record on Monday, October 10th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Thursday, October 6th. This is a positive change from Intuit’s previous quarterly dividend of $0.68. Intuit’s dividend payout ratio (DPR) is currently 37.52%.

Intuit Profile

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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 ProConnect.

Further Reading

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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