Intuit Inc. (NASDAQ:INTU) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,220 shares of the software maker’s stock after selling 57 shares during the period. First Affirmative Financial Network’s holdings in Intuit were worth $758,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. RFG Holdings Inc. raised its holdings in shares of Intuit by 11.3% during the third quarter. RFG Holdings Inc. now owns 1,055 shares of the software maker’s stock valued at $656,000 after acquiring an additional 107 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in Intuit by 6.3% in the 3rd quarter. Valeo Financial Advisors LLC now owns 2,435 shares of the software maker’s stock valued at $1,512,000 after purchasing an additional 144 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in Intuit by 44.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,585 shares of the software maker’s stock valued at $6,572,000 after purchasing an additional 3,258 shares during the last quarter. Fermata Advisors LLC lifted its holdings in Intuit by 5.7% in the 3rd quarter. Fermata Advisors LLC now owns 598 shares of the software maker’s stock valued at $371,000 after purchasing an additional 32 shares in the last quarter. Finally, JGP Wealth Management LLC boosted its stake in Intuit by 1.2% during the 3rd quarter. JGP Wealth Management LLC now owns 22,743 shares of the software maker’s stock worth $14,123,000 after purchasing an additional 267 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $616.68 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $172.39 billion, a P/E ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24. The firm’s 50 day moving average price is $630.68 and its 200-day moving average price is $628.66. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

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, 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 firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the prior year, the company earned $0.40 EPS. Intuit’s revenue was up 17.4% on a year-over-year basis. As a group, equities research analysts predict that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared 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. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is 38.38%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Bank of America increased their target price on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays decreased their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Citigroup upped their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.