Intuit Inc. (NASDAQ:INTU) Shares Bought by Zega Financial LLC

Zega Financial LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 38.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,520 shares of the software maker’s stock after buying an additional 424 shares during the period. Zega Financial LLC’s holdings in Intuit were worth $999,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after buying an additional 16 shares during the period. Fortitude Family Office LLC increased its holdings in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co lifted its position in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted its stake in Intuit by 3.7% during 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 during the period. Finally, Hohimer Wealth Management LLC grew its position in Intuit by 0.9% in the 4th quarter. Hohimer Wealth Management LLC now owns 1,816 shares of the software maker’s stock worth $1,135,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU opened at $644.82 on Wednesday. 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 firm has a market cap of $180.26 billion, a PE ratio of 59.49, a P/E/G ratio of 3.14 and a beta of 1.24. The business has a fifty day simple moving average of $636.25 and a 200-day simple moving average of $631.29. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, equities analysts predict that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INTU shares. Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Barclays reduced their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, Royal Bank of Canada assumed coverage on shares of Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $720.37.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,940 shares of company stock worth $10,721,252. 2.90% of the stock is owned by corporate insiders.

About Intuit

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.