Advisor Resource Council Invests $285,000 in Intuit Inc. (NASDAQ:INTU)

Advisor Resource Council bought a new stake in Intuit Inc. (NASDAQ:INTU) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 459 shares of the software maker’s stock, valued at approximately $285,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of Intuit by 2.8% during the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in Intuit by 10.5% during the 2nd 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 last quarter. Gemmer Asset Management LLC raised its position in shares of Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after purchasing an additional 16 shares in the last quarter. Stonebrook Private Inc. boosted its stake in shares of Intuit by 4.5% during the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after buying an additional 17 shares during the last quarter. Finally, PFG Investments LLC grew its position 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 worth $1,024,000 after buying an additional 17 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU opened at $674.15 on Friday. Intuit Inc. has a 52 week low of $513.97 and a 52 week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $188.96 billion, a PE ratio of 64.51, a PEG ratio of 3.03 and a beta of 1.25. The company’s 50 day moving average price is $623.43 and its 200 day moving average price is $626.96.

Intuit (NASDAQ:INTU) last announced 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. Research analysts expect that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors 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 yield of 0.62%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The shares were 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 in the company, valued at $2,384,755.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on INTU shares. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Barclays reduced their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Stifel Nicolaus boosted their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets increased their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit 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.