Private Advisor Group LLC Acquires 869 Shares of Intuit Inc. (NASDAQ:INTU)

Private Advisor Group LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU) by 7.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 12,647 shares of the software maker’s stock after purchasing an additional 869 shares during the quarter. Private Advisor Group LLC’s holdings in Intuit were worth $3,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Manchester Financial Inc. acquired a new stake in shares of Intuit during the second quarter worth $30,000. FNY Investment Advisers LLC acquired a new position in Intuit in the 2nd quarter worth about $30,000. Thor Advisors LLC acquired a new position in Intuit in the 1st quarter worth about $33,000. Ibex Wealth Advisors acquired a new position in shares of Intuit during the 2nd quarter valued at about $48,000. Finally, Motco acquired a new position in shares of Intuit during the 2nd quarter valued at about $61,000. 87.06% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Gregory N. Johnson sold 2,500 shares of Intuit stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $290.74, for a total value of $726,850.00. Following the completion of the transaction, the executive vice president now directly owns 11,625 shares in the company, valued at approximately $3,379,852.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Alexander Chriss sold 2,391 shares of Intuit stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $278.87, for a total transaction of $666,778.17. Following the completion of the transaction, the executive vice president now owns 2,017 shares of the company’s stock, valued at $562,480.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 170,088 shares of company stock valued at $47,457,238. 4.60% of the stock is currently owned by company insiders.

Several analysts recently weighed in on INTU shares. Argus set a $325.00 target price on Intuit and gave the company a “buy” rating in a research note on Monday, August 26th. Jefferies Financial Group set a $320.00 target price on Intuit and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp raised their price target on Intuit from $300.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Oppenheimer raised their price target on Intuit from $269.00 to $289.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their target price on Intuit from $290.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $277.00.

NASDAQ INTU traded up $1.66 on Thursday, reaching $269.93. The company had a trading volume of 35,284 shares, compared to its average volume of 1,396,463. The firm has a market cap of $70.26 billion, a price-to-earnings ratio of 48.40, a P/E/G ratio of 2.59 and a beta of 1.10. Intuit Inc. has a fifty-two week low of $182.61 and a fifty-two week high of $295.77. The business has a 50 day moving average of $276.51 and a two-hundred day moving average of $263.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.83 and a quick ratio of 1.83.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.37. Intuit had a net margin of 22.95% and a return on equity of 43.86%. The company had revenue of $994.00 million for the quarter, compared to analysts’ expectations of $964.02 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue was up 15.0% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 6.29 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.53 per share. The ex-dividend date is Wednesday, October 9th. This represents a $2.12 annualized dividend and a dividend yield of 0.79%. This is a positive change from Intuit’s previous quarterly dividend of $0.47. Intuit’s dividend payout ratio (DPR) is presently 33.69%.

About Intuit

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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