Strategic Wealth Partners Ltd. Has $6.63 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Strategic Wealth Partners Ltd. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 10,676 shares of the software maker’s stock after selling 84 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Intuit were worth $6,630,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Intuit by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after buying an additional 2,336,654 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after buying an additional 270,432 shares in the last quarter. Legal & General Group Plc raised its position in Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after buying an additional 23,995 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 1.8 %

Shares of Intuit stock opened at $613.37 on Wednesday. The firm’s 50 day moving average is $631.71 and its 200 day moving average is $628.93. The firm has a market capitalization of $171.47 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,297 shares of company stock valued at $32,750,926. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Bank of America increased their price objective on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup boosted their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $735.71.

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.