Mutual of America Capital Management LLC Has $26.08 Million Position in Intuit Inc. (NASDAQ:INTU)

Mutual of America Capital Management LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 5.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,681 shares of the software maker’s stock after purchasing an additional 1,963 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Intuit were worth $26,079,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of INTU. L & S Advisors Inc boosted its holdings in Intuit by 1.3% during the 2nd quarter. L & S Advisors Inc now owns 14,186 shares of the software maker’s stock worth $9,323,000 after acquiring an additional 185 shares during the last quarter. Axxcess Wealth Management LLC boosted its holdings in Intuit by 85.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 12,062 shares of the software maker’s stock worth $7,927,000 after acquiring an additional 5,554 shares during the last quarter. Fairway Wealth LLC purchased a new position in Intuit during the 2nd quarter worth $26,000. Plancorp LLC boosted its holdings in Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after acquiring an additional 17 shares during the last quarter. Finally, Lmcg Investments LLC boosted its holdings in Intuit by 3.2% during the 2nd quarter. Lmcg Investments LLC now owns 15,151 shares of the software maker’s stock worth $9,957,000 after acquiring an additional 471 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Royal Bank of Canada began coverage on Intuit in a research note on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $720.37.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The disclosure for this sale can be found here. Insiders sold a total of 16,940 shares of company stock valued at $10,721,252 over the last quarter. 2.90% of the stock is owned by corporate insiders.

Intuit Stock Down 0.2 %

Shares of NASDAQ INTU opened at $644.82 on Wednesday. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $180.26 billion, a price-to-earnings ratio of 59.49, a PEG ratio of 3.14 and a beta of 1.24. The business has a 50-day moving average of $636.25 and a 200-day moving average of $631.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. Intuit’s revenue was up 17.4% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.65%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 38.38%.

About Intuit

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.