Intuit Inc. (NASDAQ:INTU) Shares Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,220 shares of the software maker’s stock after buying an additional 84 shares during the period. Financial Advocates Investment Management’s holdings in Intuit were worth $758,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the second quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter valued at $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.9 %

NASDAQ INTU opened at $621.74 on Friday. Intuit Inc. has a 12 month low of $489.55 and a 12 month high of $676.62. The company has a market capitalization of $174.27 billion, a P/E ratio of 59.50, a PEG ratio of 3.04 and a beta of 1.24. The company’s 50 day simple moving average is $622.92 and its 200 day simple moving average is $626.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating 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%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 39.81%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Bank of America lifted 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. Jefferies Financial Group boosted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $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 ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

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.