Nations Financial Group Inc. IA ADV Purchases 72 Shares of Intuit Inc. (NASDAQ:INTU)

Nations Financial Group Inc. IA ADV boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 833 shares of the software maker’s stock after buying an additional 72 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Intuit were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. bought a new position in Intuit in the 4th quarter worth $25,000. Cultivar Capital Inc. bought a new position in Intuit in the 2nd quarter worth $26,000. West Branch Capital LLC raised its holdings in Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after purchasing an additional 19 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Intuit in the 2nd quarter worth $35,000. Finally, Sachetta LLC bought a new position in Intuit in the 4th quarter worth $39,000. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the transaction, the insider now directly owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 27,309 shares of Intuit stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Insiders sold 104,367 shares of company stock valued at $60,118,991 over the last three months. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Citigroup upped their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Bank of America upped their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Finally, Jefferies Financial Group upped their target price 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. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $716.35.

Intuit Price Performance

Shares of INTU stock traded up $7.46 on Friday, reaching $630.26. The company’s stock had a trading volume of 2,069,050 shares, compared to its average volume of 1,338,575. The stock’s fifty day simple moving average is $640.17 and its 200-day simple moving average is $633.70. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $176.19 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its 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. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the firm posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. Analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.66%. Intuit’s dividend payout ratio (DPR) is 38.38%.

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.