Eagle Wealth Strategies LLC Buys New Position in Intuit Inc. (NASDAQ:INTU)

Eagle Wealth Strategies LLC purchased a new position in Intuit Inc. (NASDAQ:INTU) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 447 shares of the software maker’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors have also bought and sold shares of INTU. 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 worth $382,000 after purchasing an additional 16 shares during the period. WASHINGTON TRUST Co grew its holdings in Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock valued at $110,000 after buying an additional 16 shares in the last quarter. Gemmer Asset Management LLC grew its holdings in Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares in the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Intuit by 2.6% in the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after purchasing an additional 17 shares in the last quarter. Finally, Stonebrook Private Inc. grew its holdings in shares of Intuit by 4.5% in 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 in the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on INTU. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays decreased their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

NASDAQ INTU traded up $1.80 during trading hours on Wednesday, reaching $615.17. The stock had a trading volume of 84,717 shares, compared to its average volume of 1,324,926. The stock has a fifty day moving average of $631.71 and a 200 day moving average of $628.93. The stock has a market cap of $171.97 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 3.13 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 company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

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 analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. 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 company posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Increases Dividend

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

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,297 shares of company stock valued at $32,750,926 in the last three months. 2.90% of the stock is currently owned by company insiders.

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.