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

Axxcess Wealth Management LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,486 shares of the software maker’s stock after selling 576 shares during the period. Axxcess Wealth Management LLC’s holdings in Intuit were worth $7,133,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit in the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 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.

Intuit Stock Up 1.5 %

Shares of NASDAQ:INTU opened at $684.22 on Friday. Intuit Inc. has a 52 week low of $513.97 and a 52 week high of $688.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market cap of $191.78 billion, a PE ratio of 65.48, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The firm has a 50 day simple moving average of $625.54 and a 200 day simple moving average of $627.81.

Intuit (NASDAQ:INTU) last issued its earnings results 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 business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Intuit’s revenue was up 17.4% compared to the same quarter last year. As a group, research analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.61%. Intuit’s dividend payout ratio is presently 39.81%.

Analysts Set New Price Targets

Several analysts have issued reports on INTU shares. Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group upped their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Susquehanna reiterated a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

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.