Chris Bulman Inc Buys Shares of 1,503 Intuit Inc. (NASDAQ:INTU)

Chris Bulman Inc bought a new stake in Intuit Inc. (NASDAQ:INTU) during the second quarter, Holdings Channel.com reports. The firm bought 1,503 shares of the software maker’s stock, valued at approximately $988,000.

Other hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter worth approximately $26,000. West Branch Capital LLC boosted its stake in Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Intuit during the 2nd quarter valued at $35,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Intuit during the 2nd quarter valued at $39,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, June 10th. The stock was sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the sale, the insider now owns 6,626,721 shares of the company’s stock, valued at $3,762,320,847.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of Intuit 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 owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $567.75, for a total value of $42,581,250.00. Following the completion of the sale, the insider now directly owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,308 shares of company stock valued at $67,651,926. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INTU shares. Barclays lowered their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Citigroup increased their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Saturday, August 31st. Finally, Jefferies Financial Group increased their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Performance

Shares of INTU stock opened at $615.12 on Friday. Intuit Inc. has a 1-year low of $473.56 and a 1-year high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.50 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $171.95 billion, a price-to-earnings ratio of 56.75, a P/E/G ratio of 3.08 and a beta of 1.24. The stock’s fifty day simple moving average is $638.42 and its 200-day simple moving average is $632.34.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates 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 for 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. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, sell-side analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is presently 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.