Intuit Inc. (NASDAQ:INTU) Shares Sold by ASB Consultores LLC

ASB Consultores LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 30.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,050 shares of the software maker’s stock after selling 466 shares during the quarter. ASB Consultores LLC’s holdings in Intuit were worth $690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. LGT Financial Advisors LLC acquired a new position in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Intuit during the second quarter valued at approximately $35,000. Finally, Trifecta Capital Advisors LLC raised its holdings in shares of Intuit by 145.8% during the second quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock valued at $39,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the transaction, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Insiders have sold a total of 22,389 shares of company stock worth $14,231,188 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Intuit Stock Up 3.3 %

NASDAQ:INTU opened at $654.24 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s fifty day moving average is $636.76 and its two-hundred day moving average is $631.46. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The stock has a market capitalization of $182.89 billion, a price-to-earnings ratio of 60.35, a price-to-earnings-growth ratio of 3.14 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 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 company had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last 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 anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.64%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Analyst Ratings Changes

A number of equities analysts have commented on INTU shares. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Jefferies Financial Group increased their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets upped their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, Barclays dropped their price target on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

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.