Middleton & Co. Inc. MA Has $16.21 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Middleton & Co. Inc. MA decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,662 shares of the software maker’s stock after selling 97 shares during the quarter. Intuit comprises about 1.9% of Middleton & Co. Inc. MA’s portfolio, making the stock its 16th biggest holding. Middleton & Co. Inc. MA’s holdings in Intuit were worth $16,208,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its holdings in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Lone Pine Capital LLC bought a new stake in Intuit in the 4th quarter valued at $467,852,000. Parnassus Investments LLC boosted its stake in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares during the period. Capital World Investors grew its holdings in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after buying an additional 416,099 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Intuit by 940.4% during the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after buying an additional 285,328 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.8 %

Shares of INTU opened at $633.07 on Thursday. The stock’s 50-day moving average price is $636.26 and its two-hundred day moving average price is $631.30. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a market capitalization of $176.97 billion, a PE ratio of 58.40, a PEG ratio of 3.14 and a beta of 1.24. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. On average, analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed 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. This is a positive change 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%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

Insider Transactions at Intuit

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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. 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 three months. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent research reports. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. 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 research report on Friday, August 23rd. Bank of America increased their price target 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. Stifel Nicolaus lifted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $720.37.

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.