Intuit Inc. (NASDAQ:INTU) Shares Purchased by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,106 shares of the software maker’s stock after acquiring an additional 99 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Intuit were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $35,000. Sachetta LLC acquired a new position in shares of Intuit during the 4th quarter valued at about $39,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on INTU shares. Citigroup boosted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. KeyCorp boosted their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. UBS Group boosted their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Saturday, August 31st. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $720.37.

Insider Buying and Selling

In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,999 shares of company stock worth $8,872,069. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.1 %

INTU stock opened at $633.62 on Wednesday. The company’s 50 day moving average price is $637.49 and its 200 day moving average price is $631.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The firm has a market capitalization of $177.60 billion, a price-to-earnings ratio of 58.45, a PEG ratio of 3.00 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released 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 analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. On average, equities research analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. This is a positive change 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 is presently 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.