Ted Buchan & Co Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Ted Buchan & Co cut its position in Intuit Inc. (NASDAQ:INTU) by 58.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,456 shares of the software maker’s stock after selling 6,166 shares during the quarter. Intuit makes up 1.3% of Ted Buchan & Co’s investment portfolio, making the stock its 19th biggest holding. Ted Buchan & Co’s holdings in Intuit were worth $2,767,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. increased its stake in shares of Intuit by 16.8% during the first quarter. Atomi Financial Group Inc. now owns 1,651 shares of the software maker’s stock worth $1,073,000 after acquiring an additional 238 shares during the period. Concurrent Investment Advisors LLC grew its holdings in Intuit by 43.7% during the first quarter. Concurrent Investment Advisors LLC now owns 5,744 shares of the software maker’s stock worth $3,733,000 after acquiring an additional 1,747 shares during the period. Stonebrook Private Inc. raised its position in Intuit by 4.5% in the first quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after acquiring an additional 17 shares in the last quarter. Choate Investment Advisors lifted its holdings in Intuit by 3.1% in the first quarter. Choate Investment Advisors now owns 2,272 shares of the software maker’s stock valued at $1,477,000 after acquiring an additional 69 shares during the period. Finally, NorthRock Partners LLC grew its stake in shares of Intuit by 3.2% during the 1st quarter. NorthRock Partners LLC now owns 1,440 shares of the software maker’s stock worth $936,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 1.5 %

NASDAQ:INTU opened at $684.22 on Friday. The stock has a 50-day simple moving average of $625.54 and a 200 day simple moving average of $627.81. Intuit Inc. has a one year low of $513.97 and a one year high of $688.88. The company has a market capitalization of $191.78 billion, a price-to-earnings ratio of 65.48, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.61%. Intuit’s dividend payout ratio (DPR) is 39.81%.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The shares were 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 in the last quarter. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on INTU shares. BMO Capital Markets lifted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Finally, Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four equities 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.