APG Asset Management US Inc. Purchases 1,838 Shares of Intuit Inc. (NASDAQ:INTU)

APG Asset Management US Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,476 shares of the software maker’s stock after buying an additional 1,838 shares during the quarter. APG Asset Management US Inc.’s holdings in Intuit were worth $56,927,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in INTU. Fortitude Family Office LLC increased its position in shares of Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares in the last quarter. WASHINGTON TRUST Co increased its position in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC increased its position in shares of Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Intuit by 2.6% in the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after buying an additional 17 shares in the last quarter. Finally, Stonebrook Private Inc. increased its position in shares of Intuit by 4.5% in the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after buying an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU opened at $634.74 on Thursday. The stock’s fifty day moving average is $635.93 and its two-hundred day moving average is $630.96. The firm has a market capitalization of $177.44 billion, a P/E ratio of 58.56, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. 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.

Intuit (NASDAQ:INTU) last released its quarterly earnings data 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 return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

The firm 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 represents a $4.16 dividend on an annualized basis and a yield of 0.66%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INTU shares. Barclays cut their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. BMO Capital Markets lifted their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Stifel Nicolaus lifted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $720.37.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction 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 sale, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The disclosure for this sale can be found here. Insiders have sold 52,548 shares of company stock worth $33,604,124 over the last quarter. 2.90% of the stock is currently owned by company insiders.

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.