Intuit Inc. (NASDAQ:INTU) Shares Purchased by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 42.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,040 shares of the software maker’s stock after acquiring an additional 3,564 shares during the period. Intuit makes up 1.6% of EFG Asset Management Americas Corp.’s portfolio, making the stock its 19th biggest position. EFG Asset Management Americas Corp.’s holdings in Intuit were worth $7,913,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. LGT Financial Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the second quarter valued at about $26,000. West Branch Capital LLC raised its holdings in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after buying an additional 19 shares during the period. Hobbs Group Advisors LLC acquired a new position in Intuit during the 2nd quarter worth approximately $35,000. Finally, Sachetta LLC purchased a new position in Intuit in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU traded down $6.36 during trading hours on Friday, reaching $615.12. The company’s stock had a trading volume of 999,734 shares, compared to its average volume of 1,330,498. The stock has a market cap of $171.95 billion, a PE ratio of 56.75, a PEG ratio of 3.08 and a beta of 1.23. The business has a 50-day simple moving average of $638.42 and a 200 day simple moving average of $632.43. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is 38.38%.

Analysts Set New Price Targets

INTU has been the topic of a number of analyst reports. Susquehanna reiterated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Bank of America boosted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Wells Fargo & Company lifted their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and an average target price of $720.37.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’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 approximately $2,384,755.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The disclosure for this sale can be found here. Insiders have sold a total of 116,308 shares of company stock worth $67,651,926 in the last ninety days. 2.90% of the stock is owned by insiders.

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.