Ameritas Investment Partners Inc. Sells 82 Shares of Intuit Inc. (NASDAQ:INTU)

Ameritas Investment Partners Inc. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,090 shares of the software maker’s stock after selling 82 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Intuit were worth $7,289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth $25,000. Cultivar Capital Inc. acquired a new stake in shares of Intuit in the 2nd quarter valued at about $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the second quarter valued at about $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter worth about $35,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Intuit during the second quarter worth about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on INTU shares. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Citigroup increased their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $644.99 on Friday. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company’s 50 day moving average price is $636.82 and its two-hundred day moving average price is $631.30. The firm has a market cap of $180.31 billion, a PE ratio of 59.50, a PEG ratio of 3.14 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.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced 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 is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. Intuit’s payout ratio is presently 38.38%.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,389 shares of company stock valued at $14,231,188. Company insiders own 2.90% of the company’s stock.

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.