Intuit Inc. (NASDAQ:INTU) Shares Acquired by Mutual Advisors LLC

Mutual Advisors LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 21.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,690 shares of the software maker’s stock after buying an additional 476 shares during the quarter. Mutual Advisors LLC’s holdings in Intuit were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the 2nd quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at approximately $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by insiders.

Intuit Trading Down 1.7 %

Shares of INTU opened at $610.30 on Friday. Intuit Inc. has a 52-week low of $481.94 and a 52-week high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $622.88 and its two-hundred day moving average is $626.37. The stock has a market cap of $171.06 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 2.98 and a beta of 1.24.

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

Intuit Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on INTU shares. Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Barclays cut 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. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Company 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.