Arcus Capital Partners LLC Buys Shares of 1,143 Intuit Inc. (NASDAQ:INTU)

Arcus Capital Partners LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,143 shares of the software maker’s stock, valued at approximately $710,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new position in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in Intuit during the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the second quarter valued at $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

INTU stock opened at $697.35 on Tuesday. The company has a market capitalization of $195.46 billion, a PE ratio of 66.73, a P/E/G ratio of 3.34 and a beta of 1.25. 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 12-month low of $523.32 and a 12-month high of $698.96. The business’s fifty day moving average price is $626.88 and its 200 day moving average price is $628.23.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (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 analysts’ expectations of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 EPS. On average, sell-side analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTU. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. BMO Capital Markets upped their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Barclays lowered their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by insiders.

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.