Turtle Creek Wealth Advisors LLC Acquires 325 Shares of Intuit Inc. (NASDAQ:INTU)

Turtle Creek Wealth Advisors LLC grew its stake in Intuit Inc. (NASDAQ:INTU) by 3.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,758 shares of the software maker’s stock after purchasing an additional 325 shares during the quarter. Intuit comprises 1.2% of Turtle Creek Wealth Advisors LLC’s holdings, making the stock its 24th biggest position. Turtle Creek Wealth Advisors LLC’s holdings in Intuit were worth $6,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Fortitude Family Office LLC raised its holdings 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 worth $382,000 after buying an additional 16 shares during the period. WASHINGTON TRUST Co increased its stake in Intuit by 10.5% in the second 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 position in shares of Intuit by 3.7% during the second 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 last quarter. PFG Investments LLC boosted its stake in shares of Intuit by 1.1% during the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after purchasing an additional 17 shares during the period. Finally, Plancorp LLC boosted its position in Intuit by 2.0% in the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after buying 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 the business’s stock in a transaction dated Tuesday, September 10th. The shares were 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 owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 over the last ninety days. Company insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on INTU. Barclays lifted their price target on shares of Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, 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. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $739.24.

Intuit Stock Down 1.8 %

Shares of INTU traded down $12.89 during midday trading on Friday, hitting $687.87. 1,799,379 shares of the company’s stock traded hands, compared to its average volume of 1,335,732. The firm’s fifty day moving average is $633.08 and its 200-day moving average is $630.06. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78. The stock has a market capitalization of $192.80 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 3.45 and a beta of 1.25. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. Intuit’s dividend payout ratio is presently 39.81%.

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.