Aptus Capital Advisors LLC Acquires 4,389 Shares of Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

Aptus Capital Advisors LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU – Free Report) by 19.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,276 shares of the software maker’s stock after purchasing an additional 4,389 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Intuit were worth $16,938,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new stake in Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new stake in Intuit in the second quarter valued at approximately $26,000. Fairway Wealth LLC acquired a new stake in Intuit in the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at approximately $35,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

INTU stock traded up $3.73 during midday trading on Tuesday, hitting $701.08. The company’s stock had a trading volume of 234,463 shares, compared to its average volume of 1,325,646. The stock’s 50-day moving average price is $626.88 and its 200 day moving average price is $628.23. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1 year low of $523.32 and a 1 year high of $703.84. The stock has a market cap of $196.51 billion, a price-to-earnings ratio of 66.73, a PEG ratio of 3.34 and a beta of 1.25.

Intuit (NASDAQ:INTU – Get Free Report) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The business 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 business’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current 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 $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.59%. Intuit’s payout ratio is presently 39.81%.

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 stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 862 shares of the business’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 sale, the chief financial officer now directly owns 3,840 shares in the company, 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 SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. The trade was 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 worth $35,220,046 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays reduced their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note 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 note on Wednesday, August 14th. JPMorgan Chase & Co. raised their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Get Our Latest Research Report on Intuit

Intuit Company Profile

(Free Report)

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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