World Investment Advisors LLC Acquires Shares of 324 Intuit Inc. (NASDAQ:INTU)

World Investment Advisors LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, Holdings Channel.com reports. The fund bought 324 shares of the software maker’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Anchor Investment Management LLC grew its stake in Intuit by 6.6% during the 3rd quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker’s stock worth $1,500,000 after buying an additional 150 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Intuit during the third quarter worth approximately $7,506,000. Invst LLC purchased a new position in shares of Intuit during the third quarter worth approximately $203,000. Unigestion Holding SA purchased a new stake in Intuit in the 3rd quarter valued at $1,136,000. Finally, Soltis Investment Advisors LLC raised its position in Intuit by 13.8% in the 3rd quarter. Soltis Investment Advisors LLC now owns 428 shares of the software maker’s stock valued at $266,000 after purchasing an additional 52 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of INTU stock opened at $636.95 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $178.29 billion, a PE ratio of 61.84, a P/E/G ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The stock has a fifty day moving average price of $643.54 and a 200 day moving average price of $633.69.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the firm earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s dividend payout ratio is currently 40.39%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Finally, Jefferies Financial Group increased their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. The trade was a 89.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 114,934 shares of company stock worth $74,352,182 in the last ninety days. Insiders own 2.68% of the company’s stock.

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.