Signature Estate & Investment Advisors LLC Buys 28 Shares of Intuit Inc. (NASDAQ:INTU)

Signature Estate & Investment Advisors LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 2.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,390 shares of the software maker’s stock after buying an additional 28 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Intuit were worth $863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Intuit in the 2nd quarter valued at $184,982,000. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares in the last quarter. Finally, Seven Post Investment Office LP acquired a new stake in Intuit in the 2nd quarter valued at $107,513,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Barclays lifted their price objective on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research report on Friday. BMO Capital Markets lifted their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Four 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.com, Intuit has an average rating of “Moderate Buy” and an average price target of $739.24.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $33,427,129.68. This represents a 36.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This trade represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.8 %

NASDAQ:INTU opened at $687.87 on Friday. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25. The stock has a 50-day moving average price of $633.08 and a two-hundred day moving average price of $630.06.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, equities analysts expect 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. Investors 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 0.60%. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 39.81%.

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.