Benjamin Edwards Inc. Purchases 22 Shares of Intuit Inc. (NASDAQ:INTU)

Benjamin Edwards Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,467 shares of the software maker’s stock after buying an additional 22 shares during the quarter. Benjamin Edwards Inc.’s holdings in Intuit were worth $1,622,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. EverSource Wealth Advisors LLC lifted its stake in shares of Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares during the period. Fortitude Family Office LLC lifted its stake in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co lifted its stake in shares of 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 during the period. Gemmer Asset Management LLC lifted its stake in shares of 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 lifted its stake in shares of Intuit by 0.9% in the 4th quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock worth $1,135,000 after purchasing an additional 17 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Insiders sold a total of 22,389 shares of company stock worth $14,231,188 over the last three months. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. Bank of America increased their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Jefferies Financial Group increased their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Barclays reduced their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, BMO Capital Markets increased their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $720.37.

Intuit Trading Up 3.3 %

INTU stock opened at $654.24 on Friday. The firm has a fifty day moving average price of $636.76 and a 200 day moving average price of $631.46. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $182.89 billion, a PE ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Sell-side analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit’s dividend payout ratio (DPR) is currently 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.