International Assets Investment Management LLC Buys 483,621 Shares of Intuit Inc. (NASDAQ:INTU)

International Assets Investment Management LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 68,404.7% during the third quarter, Holdings Channel reports. The fund owned 484,328 shares of the software maker’s stock after acquiring an additional 483,621 shares during the period. International Assets Investment Management LLC’s holdings in Intuit were worth $300,768,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of Intuit by 940.4% in the 1st quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock worth $205,186,000 after acquiring an additional 285,328 shares during the last quarter. Vanguard Group Inc. lifted its stake in Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after purchasing an additional 283,291 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Intuit during the second quarter valued at about $184,982,000. Ameriprise Financial Inc. grew its stake in shares of Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Intuit by 21.3% during the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after buying an additional 169,190 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.3 %

INTU opened at $603.98 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. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The stock has a market cap of $168.84 billion, a PE ratio of 55.72, a PEG ratio of 3.04 and a beta of 1.24. The business has a 50 day moving average of $628.71 and a 200-day moving average of $627.16.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is 38.38%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the company’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 completion of the transaction, the executive vice president now owns 52,038 shares in the company, valued at approximately $33,427,129.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on INTU shares. Citigroup increased their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. BMO Capital Markets lifted 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 increased their price target on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $735.71.

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.