Jaffetilchin Investment Partners LLC Raises Position in Intuit Inc. (NASDAQ:INTU)

Jaffetilchin Investment Partners LLC boosted its stake in Intuit Inc. (NASDAQ:INTU) by 23.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 402 shares of the software maker’s stock after buying an additional 77 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Intuit were worth $264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Kestra Private Wealth Services LLC lifted its stake in Intuit by 75.1% in the 4th quarter. Kestra Private Wealth Services LLC now owns 3,237 shares of the software maker’s stock worth $2,023,000 after purchasing an additional 1,388 shares in the last quarter. Savant Capital LLC lifted its stake in Intuit by 2.5% in the 4th quarter. Savant Capital LLC now owns 2,648 shares of the software maker’s stock worth $1,656,000 after purchasing an additional 65 shares in the last quarter. Cannell & Co. lifted its stake in Intuit by 2.3% in the 4th quarter. Cannell & Co. now owns 2,442 shares of the software maker’s stock worth $1,526,000 after purchasing an additional 56 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Intuit by 12.1% in the 4th quarter. Victory Capital Management Inc. now owns 323,557 shares of the software maker’s stock worth $202,233,000 after purchasing an additional 34,955 shares in the last quarter. Finally, Essex Financial Services Inc. lifted its stake in Intuit by 7.5% in the 4th quarter. Essex Financial Services Inc. now owns 941 shares of the software maker’s stock worth $588,000 after purchasing an additional 66 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company lifted their price target on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $716.35.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the sale, the insider now directly owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the sale, the insider now directly owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The disclosure for this sale can be found here. In the last three months, insiders sold 104,367 shares of company stock valued at $60,118,991. Insiders own 2.90% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $630.26 on Friday. The company has a fifty day simple moving average of $640.13 and a two-hundred day simple moving average of $633.52. The company has a market cap of $176.19 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. The company has a quick ratio of 1.50, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is 33.21%.

Intuit 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.