Intuit Inc. (NASDAQ:INTU) Position Lifted by Koshinski Asset Management Inc.

Koshinski Asset Management Inc. raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 8.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 974 shares of the software maker’s stock after acquiring an additional 76 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Intuit were worth $605,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC bought a new position in shares of Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Intuit in the 2nd quarter worth about $35,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Intuit in the 2nd quarter worth about $39,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.1 %

Intuit stock opened at $617.16 on Tuesday. The company has a 50 day moving average price of $630.96 and a 200 day moving average price of $628.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The firm has a market capitalization of $172.53 billion, a price-to-earnings ratio of 56.93, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating 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 period in the previous year, the firm earned $0.40 earnings per share. Intuit’s quarterly revenue was up 17.4% on a year-over-year basis. Research analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. 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 dividend yield of 0.67%. Intuit’s dividend payout ratio is 38.38%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Royal Bank of Canada initiated coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Bank of America raised their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was 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 of the company’s stock, valued at $2,676,430.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit 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.