Global Retirement Partners LLC Buys 57 Shares of Intuit Inc. (NASDAQ:INTU)

Global Retirement Partners LLC increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.3% during the third quarter, HoldingsChannel reports. The firm owned 1,800 shares of the software maker’s stock after acquiring an additional 57 shares during the period. Global Retirement Partners LLC’s holdings in Intuit were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit in the 2nd quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new position in Intuit in the 2nd quarter valued at approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU opened at $613.29 on Friday. 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 stock has a market capitalization of $171.44 billion, a P/E ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24. The stock has a 50-day moving average price of $630.40 and a 200-day moving average price of $627.54. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (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 analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Equities analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on INTU shares. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada initiated coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. JPMorgan Chase & Co. increased their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Citigroup raised their price objective 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. Finally, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 over the last three months. Insiders own 2.90% of the company’s stock.

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.