Founders Financial Alliance LLC Acquires 300 Shares of Intuit Inc. (NASDAQ:INTU)

Founders Financial Alliance LLC increased its holdings in Intuit Inc. (NASDAQ:INTU) by 79.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 676 shares of the software maker’s stock after buying an additional 300 shares during the quarter. Founders Financial Alliance LLC’s holdings in Intuit were worth $444,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of INTU. LGT Financial Advisors LLC bought a new stake in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. purchased a new position in Intuit in the second quarter worth about $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit in the second quarter worth about $35,000. Finally, J.Safra Asset Management Corp purchased a new position in Intuit in the second quarter worth about $39,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $621.00 on Tuesday. 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 Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock’s 50 day simple moving average is $634.62 and its two-hundred day simple moving average is $630.21. The company has a market cap of $173.60 billion, a price-to-earnings ratio of 57.29, a PEG ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its 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. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Wall Street Analyst Weigh In

INTU has been the topic of several research reports. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Jefferies Financial Group raised their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Sandeep Aujla sold 862 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. The disclosure for this sale can be found here. Insiders have sold 51,583 shares of company stock valued at $32,975,909 in the last quarter. 2.90% of the stock is owned by insiders.

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.