Vaughan David Investments LLC IL Makes New Investment in Intuit Inc. (NASDAQ:INTU)

Vaughan David Investments LLC IL acquired a new stake in shares of Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 308 shares of the software maker’s stock, valued at approximately $202,000.

A number of other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Intuit by 3.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after acquiring an additional 16 shares during the period. Fortitude Family Office LLC raised its stake in Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co lifted its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares in the last quarter. Gemmer Asset Management LLC boosted its stake in Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after purchasing an additional 16 shares during the period. Finally, Hohimer Wealth Management LLC grew its holdings in Intuit by 0.9% during the 4th quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock valued at $1,135,000 after buying an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The disclosure for this sale can be found here. Insiders have sold 16,940 shares of company stock valued at $10,721,252 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. BMO Capital Markets raised their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. UBS Group boosted their target price on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Citigroup raised their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Up 1.6 %

Shares of NASDAQ:INTU opened at $643.92 on Thursday. The firm has a market capitalization of $180.01 billion, a PE ratio of 59.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The business has a 50 day simple moving average of $637.17 and a two-hundred day simple moving average of $631.98. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm 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%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. On average, equities analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. Intuit’s dividend payout ratio is presently 38.38%.

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.