Intuit Inc. (NASDAQ:INTU) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,603 shares of the software maker’s stock after buying an additional 343 shares during the quarter. D.A. Davidson & CO.’s holdings in Intuit were worth $5,964,000 at the end of the most recent quarter.

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

Insider Activity

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction dated 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 approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 130,265 shares of company stock worth $83,336,625. Insiders own 2.90% of the company’s stock.

Intuit Trading Down 0.4 %

Shares of Intuit stock opened at $636.17 on Thursday. The business has a fifty day simple moving average of $634.52 and a 200-day simple moving average of $631.32. The firm has a market cap of $178.15 billion, a price-to-earnings ratio of 61.76, a price-to-earnings-growth ratio of 3.14 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the firm posted $1.14 EPS. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Announces Dividend

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

Analyst Ratings Changes

INTU has been the topic of a number of recent research reports. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Barclays cut their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group increased their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

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.