Beverly Hills Private Wealth LLC Has $1.08 Million Position in Intuit Inc. (NASDAQ:INTU)

Beverly Hills Private Wealth LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 2.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,643 shares of the software maker’s stock after acquiring an additional 44 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Intuit were worth $1,079,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the business. LGT Financial Advisors LLC bought a new stake in Intuit during the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter worth $35,000. Sachetta LLC acquired a new stake in Intuit in the fourth quarter valued at $39,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 1.6 %

INTU opened at $643.92 on Thursday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market cap of $180.01 billion, a PE ratio of 59.40, a price-to-earnings-growth ratio of 3.00 and a beta of 1.24. The company has a fifty day moving average of $637.17 and a 200-day moving average of $631.98. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. On average, sell-side analysts predict that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.65%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is presently 38.38%.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. UBS Group boosted their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Bank of America increased their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Insider Activity

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. Insiders sold a total of 16,940 shares of company stock worth $10,721,252 over the last quarter. 2.90% of the stock is currently owned by corporate 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.