Intuit Inc. (NASDAQ:INTU) Shares Purchased by Wrapmanager Inc.

Wrapmanager Inc. raised its position in Intuit Inc. (NASDAQ:INTU) by 9.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 362 shares of the software maker’s stock after purchasing an additional 31 shares during the period. Wrapmanager Inc.’s holdings in Intuit were worth $238,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC purchased a new stake in Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the 2nd quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit in the 2nd quarter valued at about $35,000. Trifecta Capital Advisors LLC boosted its stake in shares of Intuit by 145.8% during the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Intuit during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.4 %

Shares of NASDAQ INTU opened at $655.31 on Friday. The stock has a fifty day moving average price of $636.63 and a 200 day moving average price of $631.75. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a market cap of $183.68 billion, a P/E ratio of 60.45, a P/E/G ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its 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. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The company 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 $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.63%. Intuit’s dividend payout ratio is 33.21%.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The disclosure for this sale can be found here. In the last three months, insiders sold 16,940 shares of company stock valued at $10,721,252. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Jefferies Financial Group increased 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. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Bank of America raised their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $720.37.

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.