Saturna Capital Corp Sells 2,470 Shares of Intuit Inc. (NASDAQ:INTU)

Saturna Capital Corp decreased its stake in Intuit Inc. (NASDAQ:INTU) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,503 shares of the software maker’s stock after selling 2,470 shares during the quarter. Intuit makes up 2.4% of Saturna Capital Corp’s portfolio, making the stock its 12th biggest holding. Saturna Capital Corp’s holdings in Intuit were worth $183,507,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Intuit by 68,404.7% in the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Intuit in the second quarter worth approximately $184,982,000. Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after purchasing an additional 238,486 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Intuit by 21.3% during the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after purchasing an additional 169,190 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Jefferies Financial Group increased 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. Stifel Nicolaus boosted their price target on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Finally, Bank of America boosted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Down 0.2 %

Shares of NASDAQ:INTU opened at $698.01 on Wednesday. The company has a market cap of $195.65 billion, a price-to-earnings ratio of 66.93, a PEG ratio of 3.41 and a beta of 1.25. Intuit Inc. has a 12 month low of $541.40 and a 12 month high of $703.88. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $628.37 and a 200 day moving average price of $628.67.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the company earned $0.40 EPS. As a group, equities research analysts predict that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were 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 was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. Intuit’s payout ratio is 39.81%.

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.