ORG Partners LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

ORG Partners LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 14.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 139 shares of the software maker’s stock after selling 23 shares during the period. ORG Partners LLC’s holdings in Intuit were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter worth $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the second quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit in the second quarter valued at about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit during the 2nd quarter worth approximately $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now owns 52,038 shares in the company, valued at $33,427,129.68. 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 firm’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Stock Up 0.1 %

Shares of NASDAQ INTU opened at $617.89 on Wednesday. The stock has a market capitalization of $172.73 billion, a PE ratio of 57.00, a P/E/G ratio of 3.04 and a beta of 1.24. 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 fifty day moving average of $631.08 and a 200-day moving average of $627.98. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly 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 company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. 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 Analyst Weigh In

A number of research firms have commented on INTU. Citigroup boosted their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Barclays dropped their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Royal Bank of Canada began coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Finally, Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.