Eads & Heald Wealth Management Sells 52 Shares of Intuit Inc. (NASDAQ:INTU)

Eads & Heald Wealth Management lowered its position in Intuit Inc. (NASDAQ:INTU) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,741 shares of the software maker’s stock after selling 52 shares during the quarter. Eads & Heald Wealth Management’s holdings in Intuit were worth $1,702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Americana Partners LLC boosted its stake in shares of Intuit by 7.3% during the 3rd quarter. Americana Partners LLC now owns 5,506 shares of the software maker’s stock worth $3,419,000 after acquiring an additional 376 shares during the period. Principal Securities Inc. lifted its position in Intuit by 9.6% during the third quarter. Principal Securities Inc. now owns 6,888 shares of the software maker’s stock worth $4,278,000 after acquiring an additional 606 shares during the last quarter. Stephens Inc. AR grew its position in shares of Intuit by 1.6% in the third quarter. Stephens Inc. AR now owns 12,156 shares of the software maker’s stock valued at $7,549,000 after purchasing an additional 193 shares during the last quarter. Oak Ridge Investments LLC increased its stake in shares of Intuit by 7.0% during the third quarter. Oak Ridge Investments LLC now owns 15,549 shares of the software maker’s stock worth $9,656,000 after purchasing an additional 1,019 shares during the period. Finally, United Asset Strategies Inc. increased its stake in shares of Intuit by 6.5% during the third quarter. United Asset Strategies Inc. now owns 1,793 shares of the software maker’s stock worth $1,113,000 after purchasing an additional 109 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last quarter. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on INTU. Barclays decreased their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. 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 note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Stifel Nicolaus boosted their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Intuit Stock Up 1.9 %

INTU stock opened at $621.74 on Friday. The firm has a 50-day moving average price of $622.92 and a 200-day moving average price of $626.44. Intuit Inc. has a 12 month low of $489.55 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $174.27 billion, a P/E ratio of 59.50, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during 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%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently declared 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 a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is 39.81%.

Intuit Company 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.