Kathmere Capital Management LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Kathmere Capital Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436 shares of the software maker’s stock after purchasing an additional 38 shares during the quarter. Kathmere Capital Management LLC’s holdings in Intuit were worth $287,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Fortitude Family Office LLC lifted its stake in Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Intuit by 10.5% during the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares during the last quarter. Gemmer Asset Management LLC increased its holdings in shares of Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after buying an additional 16 shares during the last quarter. Capital Advisors Ltd. LLC increased its holdings in shares of Intuit by 2.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock worth $429,000 after buying an additional 17 shares during the last quarter. Finally, Stonebrook Private Inc. increased its holdings in shares of Intuit by 4.5% during the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Intuit stock opened at $619.03 on Friday. The stock has a market cap of $173.05 billion, a P/E ratio of 57.11, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. The company has a fifty day simple moving average of $635.09 and a 200-day simple moving average of $630.58. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping 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 net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

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

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of recent analyst reports. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Barclays cut their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Bank of America raised their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $720.37.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 2,941 shares of the business’s 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 sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Alex G. Balazs sold 2,941 shares of the business’s 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 sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were 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 disclosure for this sale can be found here. Insiders sold a total of 52,548 shares of company stock valued at $33,604,124 over the last ninety days. Insiders own 2.90% of the company’s stock.

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.