Garden State Investment Advisory Services LLC Purchases 191 Shares of Intuit Inc. (NASDAQ:INTU)

Garden State Investment Advisory Services LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 31.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 791 shares of the software maker’s stock after purchasing an additional 191 shares during the period. Garden State Investment Advisory Services LLC’s holdings in Intuit were worth $520,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC increased its holdings in shares of Intuit by 3.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares during the last quarter. Fortitude Family Office LLC grew its stake in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after acquiring an additional 16 shares during the period. Gemmer Asset Management LLC lifted its position in Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after acquiring an additional 16 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of Intuit by 2.6% during the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock worth $429,000 after acquiring an additional 17 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INTU. Citigroup increased their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets boosted their target price on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Jefferies Financial Group raised 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. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

Intuit Trading Down 1.4 %

Shares of INTU opened at $644.99 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $180.31 billion, a price-to-earnings ratio of 59.50, a PEG ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The business’s fifty day moving average is $636.82 and its 200-day moving average is $631.30.

Intuit (NASDAQ:INTU) last announced its quarterly 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. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 EPS. Equities analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

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

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the 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 transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The disclosure for this sale can be found here. Insiders have sold 22,389 shares of company stock worth $14,231,188 in the last 90 days. Insiders own 2.90% of the company’s stock.

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.