ASB Consultores LLC Sells 466 Shares of Intuit Inc. (NASDAQ:INTU)

ASB Consultores LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 30.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,050 shares of the software maker’s stock after selling 466 shares during the period. ASB Consultores LLC’s holdings in Intuit were worth $690,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Bridges Investment Management Inc. grew its holdings in Intuit by 536.7% during the second quarter. Bridges Investment Management Inc. now owns 31,987 shares of the software maker’s stock valued at $21,022,000 after purchasing an additional 26,963 shares during the period. Canada Pension Plan Investment Board lifted its position in shares of Intuit by 80.8% in the second quarter. Canada Pension Plan Investment Board now owns 251,385 shares of the software maker’s stock valued at $165,213,000 after acquiring an additional 112,359 shares in the last quarter. Davidson Capital Management Inc. lifted its position in shares of Intuit by 22.2% in the second quarter. Davidson Capital Management Inc. now owns 5,188 shares of the software maker’s stock valued at $3,410,000 after acquiring an additional 943 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Intuit by 0.9% in the second quarter. Benjamin Edwards Inc. now owns 2,467 shares of the software maker’s stock valued at $1,622,000 after acquiring an additional 22 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its position in shares of Intuit by 2.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 49,681 shares of the software maker’s stock valued at $32,651,000 after acquiring an additional 1,047 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on INTU shares. Barclays lowered their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. 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. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Finally, JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Up 3.3 %

Shares of NASDAQ INTU opened at $654.24 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $182.89 billion, a PE ratio of 60.35, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24. The stock’s fifty day simple moving average is $636.76 and its two-hundred day simple moving average is $631.46. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (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 for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, analysts expect that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.64%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s payout ratio is 38.38%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the business’s stock in a transaction dated 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. Insiders have sold a total of 22,389 shares of company stock worth $14,231,188 in the last ninety days. 2.90% of the stock is owned by insiders.

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.