Intuit Inc. (NASDAQ:INTU) Shares Sold by HBW Advisory Services LLC

HBW Advisory Services LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 84.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 980 shares of the software maker’s stock after selling 5,416 shares during the quarter. HBW Advisory Services LLC’s holdings in Intuit were worth $608,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter worth approximately $26,000. Fairway Wealth LLC purchased a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at approximately $35,000. Finally, Trifecta Capital Advisors LLC increased its holdings in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Intuit news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,297 shares of company stock valued at $32,750,926. 2.90% of the stock is owned by insiders.

Intuit Stock Up 1.1 %

INTU traded up $6.86 on Friday, reaching $610.67. The company’s stock had a trading volume of 1,220,267 shares, compared to its average volume of 1,330,014. The company has a market capitalization of $170.71 billion, a price-to-earnings ratio of 56.33, a P/E/G ratio of 3.13 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 Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The stock has a 50 day moving average of $632.84 and a two-hundred day moving average of $629.59.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share 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 during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s revenue was up 17.4% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Wall Street Analyst Weigh In

A number of research firms have commented on INTU. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Royal Bank of Canada started coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

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.