Intuit Inc. (NASDAQ:INTU) Shares Acquired by Ranch Capital Advisors Inc.

Ranch Capital Advisors Inc. raised its holdings in Intuit Inc. (NASDAQ:INTU) by 27.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 418 shares of the software maker’s stock after acquiring an additional 91 shares during the period. Ranch Capital Advisors Inc.’s holdings in Intuit were worth $274,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in INTU. AE Wealth Management LLC grew its stake in shares of Intuit by 57.0% during the 2nd quarter. AE Wealth Management LLC now owns 8,726 shares of the software maker’s stock valued at $5,735,000 after buying an additional 3,169 shares during the period. Bridges Investment Management Inc. raised its holdings in shares of Intuit by 536.7% in the 2nd quarter. Bridges Investment Management Inc. now owns 31,987 shares of the software maker’s stock worth $21,022,000 after purchasing an additional 26,963 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Intuit by 80.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 251,385 shares of the software maker’s stock worth $165,213,000 after purchasing an additional 112,359 shares during the period. Davidson Capital Management Inc. raised its holdings in Intuit by 22.2% in the second quarter. Davidson Capital Management Inc. now owns 5,188 shares of the software maker’s stock valued at $3,410,000 after buying an additional 943 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in Intuit by 0.9% during the second quarter. Benjamin Edwards Inc. now owns 2,467 shares of the software maker’s stock worth $1,622,000 after buying an additional 22 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,389 shares of company stock valued at $14,231,188. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group raised their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada initiated coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Finally, BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $720.37.

Intuit Stock Up 3.3 %

INTU stock opened at $654.24 on Friday. The firm’s 50-day moving average is $636.76 and its two-hundred day moving average is $631.46. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $182.89 billion, a price-to-earnings ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62.

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, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company posted $0.40 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.