Independent Solutions Wealth Management LLC Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Independent Solutions Wealth Management LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,643 shares of the software maker’s stock after selling 108 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Intuit were worth $2,883,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in INTU. &PARTNERS increased its stake in shares of Intuit by 148.2% in the second quarter. &PARTNERS now owns 5,428 shares of the software maker’s stock worth $3,558,000 after purchasing an additional 3,241 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in Intuit by 14.3% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 921 shares of the software maker’s stock valued at $605,000 after acquiring an additional 115 shares during the period. Cornerstone Wealth Group LLC raised its holdings in Intuit by 54.3% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 668 shares of the software maker’s stock valued at $439,000 after acquiring an additional 235 shares during the period. Diversified LLC purchased a new stake in shares of Intuit during the second quarter worth $209,000. Finally, Sather Financial Group Inc boosted its holdings in shares of Intuit by 3.5% in the second quarter. Sather Financial Group Inc now owns 71,115 shares of the software maker’s stock worth $46,737,000 after acquiring an additional 2,427 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction 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. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,093 shares of company stock worth $93,725,118. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on INTU shares. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 target price on the stock. BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Oppenheimer upped their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Intuit Trading Down 1.2 %

Intuit stock traded down $7.59 during mid-day trading on Thursday, hitting $642.22. The company’s stock had a trading volume of 813,696 shares, compared to its average volume of 1,372,777. The business has a 50 day moving average price of $643.19 and a 200-day moving average price of $633.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock has a market cap of $179.77 billion, a price-to-earnings ratio of 62.35, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 EPS. As a group, analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.