Intuit Inc. (NASDAQ:INTU) Shares Purchased by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,479 shares of the software maker’s stock after purchasing an additional 30 shares during the quarter. Elevated Capital Advisors LLC’s holdings in Intuit were worth $918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in Intuit by 940.4% in the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after acquiring an additional 285,328 shares during the period. Vanguard Group Inc. boosted its stake in Intuit by 1.1% in 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 acquiring an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in Intuit in the second quarter valued at approximately $184,982,000. Ameriprise Financial Inc. boosted its stake in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after acquiring an additional 169,190 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 862 shares of the company’s 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 transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock valued at $35,220,046 in the last three months. 2.90% of the stock is currently owned by company insiders.

Intuit Price Performance

NASDAQ INTU opened at $609.59 on Wednesday. The stock has a market capitalization of $170.41 billion, a P/E ratio of 56.24, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The business’s fifty day moving average is $629.40 and its two-hundred day moving average is $627.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results 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 company had revenue of $3.18 billion for 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 was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 earnings per share. On average, research analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s payout ratio is 38.38%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Citigroup lifted their target price on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Bank of America lifted their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Royal Bank of Canada began coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price objective for the company. Finally, 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. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $735.71.

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.