Advisor Resource Council Takes $285,000 Position in Intuit Inc. (NASDAQ:INTU)

Advisor Resource Council bought a new position in shares of Intuit Inc. (NASDAQ:INTU) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 459 shares of the software maker’s stock, valued at approximately $285,000.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. Vanguard Group Inc. increased its stake in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after acquiring an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Intuit in the 2nd quarter valued at approximately $184,982,000. Ameriprise Financial Inc. lifted its position in shares of Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after purchasing an additional 169,190 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Up 4.0 %

Shares of INTU opened at $674.15 on Friday. The business’s fifty day moving average price is $623.43 and its two-hundred day moving average price is $626.96. The firm has a market capitalization of $188.96 billion, a price-to-earnings ratio of 64.51, a PEG ratio of 3.03 and a beta of 1.25. Intuit Inc. has a 52 week low of $513.97 and a 52 week high of $676.62. 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 (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, analysts predict that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America boosted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group raised their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets upped their price objective on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Susquehanna reiterated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.