Barlow Wealth Partners Inc. Has $10.11 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Barlow Wealth Partners Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,788 shares of the software maker’s stock after buying an additional 300 shares during the period. Barlow Wealth Partners Inc.’s holdings in Intuit were worth $10,114,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in Intuit in the second quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter worth $35,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the second quarter worth $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. BMO Capital Markets lifted their price target on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada initiated coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price on the stock. Finally, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Up 0.3 %

Shares of NASDAQ:INTU traded up $1.80 during midday trading on Wednesday, hitting $615.17. 84,717 shares of the company’s stock were exchanged, compared to its average volume of 1,324,926. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a 50 day moving average price of $631.71 and a 200-day moving average price of $628.93. The company has a market cap of $171.97 billion, a PE ratio of 56.58, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, sell-side analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

Insider Buying and Selling at Intuit

In other Intuit news, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold a total of 51,297 shares of company stock worth $32,750,926 over the last three months. 2.90% of the stock is currently 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.