Intuit Inc. (NASDAQ:INTU) Shares Bought by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. lifted its holdings in Intuit Inc. (NASDAQ:INTU) by 83.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 220 shares of the software maker’s stock after acquiring an additional 100 shares during the period. Mizuho Securities Co. Ltd.’s holdings in Intuit were worth $145,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in INTU. Cultivar Capital Inc. acquired a new stake in Intuit during the 2nd quarter valued at $26,000. West Branch Capital LLC grew its holdings in 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 purchasing an additional 19 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at $35,000. Sachetta LLC acquired a new stake in Intuit during the fourth quarter valued at approximately $39,000. Finally, J.Safra Asset Management Corp acquired a new stake in Intuit during the second quarter worth about $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.2 %

Shares of INTU traded up $7.46 during mid-day trading on Friday, reaching $630.26. The company’s stock had a trading volume of 2,069,467 shares, compared to its average volume of 1,370,424. The business has a fifty day moving average of $640.13 and a 200 day moving average of $633.48. The company has a market cap of $176.19 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its earnings results 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. 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 company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio is 33.21%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 1,061 shares of the company’s 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Sandeep Aujla sold 1,061 shares of the company’s 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 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the transaction, the insider now directly owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,367 shares of company stock valued at $60,118,991. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Jefferies Financial Group upped their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays cut their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Bank of America upped their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $716.35.

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.