RFG Holdings Inc. Boosts Stock Position in Intuit Inc. (NASDAQ:INTU)

RFG Holdings Inc. grew its holdings in Intuit Inc. (NASDAQ:INTU) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,055 shares of the software maker’s stock after purchasing an additional 107 shares during the period. Intuit comprises approximately 0.2% of RFG Holdings Inc.’s holdings, making the stock its 29th largest holding. RFG Holdings Inc.’s holdings in Intuit were worth $656,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INTU. Valeo Financial Advisors LLC grew 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 worth $1,512,000 after acquiring an additional 144 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Intuit by 44.5% during 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 in the last quarter. Fermata Advisors LLC lifted its holdings in shares of Intuit by 5.7% in the 3rd quarter. Fermata Advisors LLC now owns 598 shares of the software maker’s stock worth $371,000 after buying an additional 32 shares during the period. JGP Wealth Management LLC grew its position in shares of 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 buying an additional 267 shares in the last quarter. Finally, LVW Advisors LLC increased its stake in shares of Intuit by 23.4% during the third quarter. LVW Advisors LLC now owns 486 shares of the software maker’s stock valued at $302,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Sandeep Aujla sold 4,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. 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 three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.4 %

NASDAQ INTU opened at $616.68 on Friday. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market capitalization of $172.39 billion, a PE ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a fifty day moving average of $630.68 and a 200 day moving average of $628.66.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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 return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. 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 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.