Intuit Inc. (NASDAQ:INTU) Position Trimmed by Raub Brock Capital Management LP

Raub Brock Capital Management LP decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,887 shares of the software maker’s stock after selling 1,275 shares during the period. Intuit accounts for 4.4% of Raub Brock Capital Management LP’s portfolio, making the stock its 5th largest position. Raub Brock Capital Management LP’s holdings in Intuit were worth $20,299,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new stake in shares of Intuit during the second quarter valued at approximately $26,000. West Branch Capital LLC increased its position in shares of Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the second quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new position in Intuit in the 2nd quarter worth approximately $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. 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, Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $720.37.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $6.36 during midday trading on Friday, hitting $615.12. The company had a trading volume of 999,734 shares, compared to its average volume of 1,330,498. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a fifty day moving average of $638.42 and a two-hundred day moving average of $632.34. The company has a market cap of $171.95 billion, a price-to-earnings ratio of 56.75, a PEG ratio of 3.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The business’s quarterly revenue was up 17.4% on a year-over-year basis. On average, equities research analysts expect that Intuit Inc. will post 14.06 EPS 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 dividend of $1.04 per share. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date 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%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, June 10th. The shares were 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 $3,762,320,847.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, 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 transaction, the insider now directly owns 6,626,721 shares in the company, valued at $3,762,320,847.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. Insiders have sold 116,308 shares of company stock valued at $67,651,926 over the last 90 days. 2.90% of the stock is currently owned by corporate insiders.

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.