Jacobsen Capital Management raised its position in Intuit Inc. (NASDAQ:INTU – Free Report) by 11.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 613 shares of the software maker’s stock after buying an additional 63 shares during the period. Jacobsen Capital Management’s holdings in Intuit were worth $483,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in Intuit by 61.3% in the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock valued at $2,233,000 after buying an additional 1,350 shares during the period. Revolve Wealth Partners LLC boosted its stake in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after acquiring an additional 482 shares during the last quarter. Wealth Group Ltd. acquired a new stake in Intuit in the first quarter worth $493,000. GAMMA Investing LLC boosted its position in shares of Intuit by 13.7% during the first quarter. GAMMA Investing LLC now owns 4,602 shares of the software maker’s stock worth $2,826,000 after purchasing an additional 554 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Intuit by 36.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,889 shares of the software maker’s stock valued at $9,142,000 after buying an additional 3,986 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.
Intuit Price Performance
NASDAQ:INTU opened at $675.04 on Wednesday. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The company has a market cap of $188.20 billion, a P/E ratio of 49.13, a P/E/G ratio of 2.57 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.36 and a current ratio of 1.36. The stock’s 50-day simple moving average is $673.93 and its 200 day simple moving average is $696.36.
Intuit Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Thursday, October 9th were paid a $1.20 dividend. This is an increase from Intuit’s previous quarterly dividend of $1.04. The ex-dividend date was Thursday, October 9th. This represents a $4.80 annualized dividend and a yield of 0.7%. Intuit’s dividend payout ratio (DPR) is 34.93%.
Analyst Upgrades and Downgrades
INTU has been the subject of a number of research analyst reports. Rothschild & Co Redburn boosted their target price on Intuit from $560.00 to $670.00 and gave the company a “neutral” rating in a research note on Tuesday, September 23rd. BMO Capital Markets boosted their price objective on Intuit from $820.00 to $870.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Stifel Nicolaus dropped their target price on shares of Intuit from $850.00 to $800.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Barclays cut their price target on shares of Intuit from $815.00 to $785.00 and set an “overweight” rating on the stock in a research note on Friday, August 22nd. Finally, Morgan Stanley cut their price objective on shares of Intuit from $900.00 to $880.00 and set an “overweight” rating on the stock in a research report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $791.82.
Read Our Latest Research Report on INTU
Insider Activity at Intuit
In related news, Director Scott D. Cook sold 529 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $664.99, for a total transaction of $351,779.71. Following the transaction, the director directly owned 6,162,547 shares of the company’s stock, valued at approximately $4,098,032,129.53. The trade was a 0.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,170 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $677.06, for a total value of $792,160.20. Following the sale, the chief financial officer directly owned 1,295 shares of the company’s stock, valued at $876,792.70. This represents a 47.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,407 shares of company stock worth $1,614,913. Insiders own 2.68% of the company’s stock.
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.
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