Intuit Inc. (NASDAQ:INTU) Holdings Raised by Ballentine Partners LLC

Ballentine Partners LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 27.0% in the third quarter, Holdings Channel.com reports. The fund owned 3,805 shares of the software maker’s stock after buying an additional 810 shares during the period. Ballentine Partners LLC’s holdings in Intuit were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new position in Intuit during the 2nd quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in Intuit during the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit during the 2nd quarter worth $35,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.9 %

Shares of NASDAQ INTU opened at $609.27 on Friday. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a market cap of $170.77 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 2.98 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 business has a fifty day simple moving average of $627.75 and a 200-day simple moving average of $627.00.

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. 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 the consensus estimate of $3.08 billion. During the same period in the prior year, the business posted $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is currently 39.81%.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The disclosure for this sale can be found here. Over the last ninety 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. 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. Citigroup boosted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus boosted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average target price of $735.71.

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.