Bleakley Financial Group LLC Acquires 156 Shares of Intuit Inc. (NASDAQ:INTU)

Bleakley Financial Group LLC lifted its stake in Intuit Inc. (NASDAQ:INTU) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,713 shares of the software maker’s stock after purchasing an additional 156 shares during the quarter. Bleakley Financial Group LLC’s holdings in Intuit were worth $2,927,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Intech Investment Management LLC boosted its holdings in Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after acquiring an additional 2,641 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after purchasing an additional 968 shares during the last quarter. Cetera Advisors LLC boosted its stake in Intuit by 33.4% in the 1st quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock worth $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Park Avenue Securities LLC grew its position in Intuit by 13.4% during the 2nd quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock valued at $7,398,000 after purchasing an additional 1,328 shares during the last quarter. Finally, New Mexico Educational Retirement Board grew its position in Intuit by 13.0% during the 1st quarter. New Mexico Educational Retirement Board now owns 16,478 shares of the software maker’s stock valued at $10,711,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays cut their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Trading Up 0.7 %

Shares of INTU stock opened at $613.29 on Friday. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The firm has a fifty day moving average price of $630.40 and a 200-day moving average price of $627.53. The company has a market cap of $171.44 billion, a price-to-earnings ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. As a group, equities analysts predict that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

Insider Activity at Intuit

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

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.