Intuit Inc. (NASDAQ:INTU) Holdings Cut by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,554 shares of the software maker’s stock after selling 170 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Intuit were worth $965,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Barclays cut their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target 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. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Up 1.9 %

Shares of Intuit stock 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 firm has a market capitalization of $174.27 billion, a PE ratio of 59.50, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. 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 stock’s fifty day moving average is $622.92 and its 200-day moving average is $626.44.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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. The firm had revenue of $3.18 billion for 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 business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. Equities analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 39.81%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 over the last quarter. Company insiders own 2.90% of the company’s stock.

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.