Intuit Inc. (NASDAQ:INTU) Shares Acquired by Principal Securities Inc.

Principal Securities Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 9.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,888 shares of the software maker’s stock after acquiring an additional 606 shares during the quarter. Principal Securities Inc.’s holdings in Intuit were worth $4,278,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC increased its stake in shares of Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares during the period. GAMMA Investing LLC increased its stake in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the period. Cetera Advisors LLC increased its stake in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares during the period. Park Avenue Securities LLC grew its position in Intuit by 13.4% in the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after buying an additional 1,328 shares during the last quarter. Finally, M&G Plc acquired a new position in Intuit in the first quarter worth approximately $22,819,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.9 %

Intuit stock opened at $621.74 on Friday. The company has a market capitalization of $174.27 billion, a P/E ratio of 59.50, a P/E/G ratio of 3.04 and a beta of 1.24. The firm’s fifty day simple moving average is $622.92 and its 200-day simple moving average is $626.44. 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 1-year low of $489.55 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. Intuit’s payout ratio is presently 39.81%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated 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 owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INTU has been the topic of several recent research reports. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Barclays decreased their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $735.71.

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.