Aviso Wealth Management Raises Stake in Intuit Inc. (NASDAQ:INTU)

Aviso Wealth Management lifted its stake in Intuit Inc. (NASDAQ:INTU) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 362 shares of the software maker’s stock after purchasing an additional 17 shares during the period. Aviso Wealth Management’s holdings in Intuit were worth $238,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter worth about $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC bought a new position in Intuit in the second quarter worth approximately $26,000. Hobbs Group Advisors LLC purchased a new position in Intuit during the 2nd quarter worth $35,000. Finally, J.Safra Asset Management Corp bought a new stake in Intuit during the 2nd quarter valued at $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 2.8 %

Shares of NASDAQ:INTU opened at $619.03 on Friday. The business’s 50-day moving average is $635.09 and its 200 day moving average is $630.58. 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 firm has a market capitalization of $173.05 billion, a P/E ratio of 57.11, a P/E/G ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) 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 net margin of 18.19% and a return on equity of 18.64%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, research analysts predict that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intuit news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,548 shares of company stock worth $33,604,124. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INTU shares. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Royal Bank of Canada initiated coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, September 20th. Finally, Citigroup increased their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Six 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.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

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.