Intuit Inc. (NASDAQ:INTU) Shares Acquired by Equitable Trust Co.

Equitable Trust Co. increased its stake in Intuit Inc. (NASDAQ:INTU) by 3.0% during the 3rd quarter, Holdings Channel reports. The fund owned 5,618 shares of the software maker’s stock after purchasing an additional 166 shares during the quarter. Equitable Trust Co.’s holdings in Intuit were worth $3,489,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter valued at $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the second quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter valued at $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit during the second quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock valued at $35,220,046 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 1.5 %

INTU stock opened at $684.22 on Friday. The stock has a market capitalization of $191.78 billion, a P/E ratio of 65.48, a PEG ratio of 3.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a one year low of $513.97 and a one year high of $688.88. The company has a 50 day moving average price of $625.54 and a two-hundred day moving average price of $627.81.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.61%. Intuit’s payout ratio is currently 39.81%.

Analysts Set New Price Targets

Several brokerages have issued reports on INTU. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets raised their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Bank of America raised their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.