Sanctuary Advisors LLC Acquires New Shares in Intuit Inc. (NASDAQ:INTU)

Sanctuary Advisors LLC bought a new position in Intuit Inc. (NASDAQ:INTU) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 19,377 shares of the software maker’s stock, valued at approximately $12,334,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in shares of 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 purchasing an additional 16 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the last quarter. Gemmer Asset Management LLC boosted 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 purchasing an additional 16 shares during the period. Capital Advisors Ltd. LLC boosted its position in 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 purchasing an additional 17 shares during the period. Finally, Stonebrook Private Inc. grew its holdings in Intuit by 4.5% during the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock valued at $259,000 after purchasing an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, 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. Over the last three months, insiders sold 51,297 shares of company stock valued at $32,750,926. 2.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Royal Bank of Canada started coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price for the company. Finally, Citigroup lifted their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Price Performance

NASDAQ:INTU opened at $603.81 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 company has a 50-day moving average of $633.29 and a 200-day moving average of $629.73. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a market capitalization of $168.79 billion, a price-to-earnings ratio of 55.70, a PEG ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results 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 net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.69%. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is currently 38.38%.

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.