Atria Wealth Solutions Inc. Sells 839 Shares of Intuit Inc. (NASDAQ:INTU)

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in Intuit Inc. by 13.4%, now owning 5,402 shares worth approximately $3.32 million.
• Intuit reported a quarterly earnings per share (EPS) of $11.65, exceeding the consensus estimate by $0.76, along with a revenue of $7.75 billion, up 15.1% year-over-year.
• The company declared a quarterly dividend of $1.04 per share, translating to an annualized dividend yield of 0.5% and a payout ratio of 33.77%.

Atria Wealth Solutions Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,402 shares of the software maker's stock after selling 839 shares during the period. Atria Wealth Solutions Inc.'s holdings in Intuit were worth $3,317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. Copia Wealth Management bought a new stake in Intuit in the 4th quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth approximately $28,000. Olde Wealth Management LLC bought a new stake in Intuit in the 1st quarter worth approximately $37,000. Atlantic Edge Private Wealth Management LLC grew its position in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after purchasing an additional 68 shares during the period. Finally, Hughes Financial Services LLC bought a new stake in Intuit in the 1st quarter worth approximately $50,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Down 2.3%

INTU opened at $761.61 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $813.70. The firm's fifty day moving average is $769.33 and its 200 day moving average is $666.28. The stock has a market cap of $212.45 billion, a price-to-earnings ratio of 61.82, a price-to-earnings-growth ratio of 3.00 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the company earned $9.88 EPS. The business's quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. The Goldman Sachs Group lifted their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Morgan Stanley lifted their target price on shares of Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by insiders.

Intuit Company Profile

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.

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