Intuit Inc. (NASDAQ:INTU) Stock Holdings Lowered by Private Advisor Group LLC

Private Advisor Group LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 8,417 shares of the software maker’s stock after selling 70 shares during the period. Private Advisor Group LLC’s holdings in Intuit were worth $5,227,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Brookstone Capital Management raised its holdings in shares of Intuit by 4.7% in the 1st quarter. Brookstone Capital Management now owns 2,141 shares of the software maker’s stock worth $1,392,000 after purchasing an additional 97 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of Intuit by 23.7% in the first quarter. Wealthcare Advisory Partners LLC now owns 793 shares of the software maker’s stock worth $515,000 after acquiring an additional 152 shares in the last quarter. Kathmere Capital Management LLC increased its position in shares of Intuit by 16.0% in the first quarter. Kathmere Capital Management LLC now owns 398 shares of the software maker’s stock worth $259,000 after acquiring an additional 55 shares in the last quarter. Vicus Capital purchased a new position in shares of Intuit in the first quarter worth approximately $225,000. Finally, Founders Financial Securities LLC increased its position in shares of Intuit by 3.8% in the first quarter. Founders Financial Securities LLC now owns 719 shares of the software maker’s stock worth $467,000 after acquiring an additional 26 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Barclays dropped their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $2,676,430.81. The trade was 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 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Intuit Stock Performance

INTU stock opened at $609.27 on Friday. The firm has a 50 day moving average of $626.86 and a two-hundred day moving average of $626.75. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a market capitalization of $170.77 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 2.98 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued 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 net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s payout ratio is presently 39.81%.

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.