Intuit Inc. (NASDAQ:INTU) Stock Holdings Lowered by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,678 shares of the software maker’s stock after selling 33 shares during the period. Gateway Investment Advisers LLC’s holdings in Intuit were worth $2,905,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in INTU. LGT Financial Advisors LLC acquired a new stake in Intuit in the 2nd quarter valued at approximately $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter worth $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the second quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Intuit during the second quarter valued at about $35,000. Finally, J.Safra Asset Management Corp acquired a new stake in Intuit in the second quarter worth about $39,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

INTU stock opened at $616.68 on Friday. The stock has a market cap of $172.39 billion, a P/E ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a 50 day simple moving average of $630.68 and a 200 day simple moving average of $628.58. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62.

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

Intuit Increases Dividend

The company 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 $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. Intuit’s dividend payout ratio (DPR) is 38.38%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Susquehanna reissued a “positive” rating and set a $757.00 target price on shares of Intuit in a report on Friday, August 16th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group raised their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Citigroup upped their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Insider Activity

In related news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock worth $35,220,046 in the last three months. 2.90% of the stock is owned by insiders.

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.