Baxter Bros Inc. Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Baxter Bros Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,621 shares of the software maker's stock after selling 1,689 shares during the quarter. Intuit accounts for about 4.8% of Baxter Bros Inc.'s investment portfolio, making the stock its 3rd largest holding. Baxter Bros Inc.'s holdings in Intuit were worth $37,025,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. LGT Financial Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit during the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter worth $35,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of the company's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the 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 completion of the sale, the chief financial officer now directly owns 452 shares of the company's stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last quarter. 2.90% of the stock is owned by company insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $11.44 during trading on Friday, reaching $621.74. The company had a trading volume of 1,436,999 shares, compared to its average volume of 1,183,744. The firm's fifty day moving average is $622.92 and its 200 day moving average is $626.64. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $174.27 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. Intuit Inc. has a twelve month low of $489.55 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company's revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was 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 dividend yield of 0.67%. Intuit's payout ratio is 39.81%.

Analysts Set New Price Targets

INTU has been the topic of a number of analyst reports. Piper Sandler reaffirmed an "overweight" rating and set a $768.00 target price on shares of Intuit in a research report on Friday, September 27th. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. StockNews.com raised Intuit from a "hold" rating to a "buy" rating in a research report on Monday, September 30th. Jefferies Financial Group raised their price target 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. Finally, Morgan Stanley cut shares of Intuit from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.