MRA Advisory Group Has $484,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

MRA Advisory Group cut its position in Intuit Inc. (NASDAQ:INTU) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 737 shares of the software maker’s stock after selling 56 shares during the quarter. MRA Advisory Group’s holdings in Intuit were worth $484,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. Aveo Capital Partners LLC acquired a new stake in shares of Intuit in the 4th quarter valued at about $203,000. 9258 Wealth Management LLC raised its holdings in Intuit by 29.0% during the 4th quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after acquiring an additional 146 shares during the period. Gryphon Financial Partners LLC lifted its holdings in shares of Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after buying an additional 393 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Intuit by 1.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after buying an additional 16 shares in the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Intuit by 108.0% in the 4th quarter. Jump Financial LLC now owns 1,562 shares of the software maker’s stock worth $976,000 after buying an additional 811 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on INTU shares. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Royal Bank of Canada began coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. raised their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Citigroup boosted their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. The disclosure for this sale can be found here. Insiders have sold 116,308 shares of company stock valued at $67,651,926 in the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $615.12 on Friday. The firm’s 50-day moving average is $638.42 and its 200 day moving average is $632.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock has a market cap of $171.95 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 3.08 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Sell-side analysts anticipate that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

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