Boston Financial Mangement LLC Sells 193 Shares of Intuit Inc. (NASDAQ:INTU)

Boston Financial Mangement LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,994 shares of the software maker’s stock after selling 193 shares during the period. Boston Financial Mangement LLC’s holdings in Intuit were worth $5,585,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new position in shares of Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter worth $26,000. Fairway Wealth LLC acquired a new position in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 862 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 in the last quarter. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on INTU. BMO Capital Markets boosted their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective on the stock. Finally, Jefferies Financial Group raised their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Trading Up 0.5 %

Shares of INTU opened at $612.09 on Tuesday. 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 $171.11 billion, a price-to-earnings ratio of 56.47, a PEG ratio of 2.98 and a beta of 1.24. The stock has a fifty day moving average price of $625.84 and a two-hundred day moving average price of $626.51. Intuit Inc. has a 52-week low of $481.79 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. Analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Intuit Company Profile

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.