Braun Bostich & Associates Inc. Purchases 46 Shares of Intuit Inc. (NASDAQ:INTU)

Braun Bostich & Associates Inc. raised its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 398 shares of the software maker’s stock after purchasing an additional 46 shares during the period. Braun Bostich & Associates Inc.’s holdings in Intuit were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Regatta Capital Group LLC raised its holdings in shares of Intuit by 1.6% in the third quarter. Regatta Capital Group LLC now owns 1,571 shares of the software maker’s stock valued at $976,000 after acquiring an additional 25 shares in the last quarter. Magnus Financial Group LLC increased its position in Intuit by 2.2% during the 3rd quarter. Magnus Financial Group LLC now owns 1,155 shares of the software maker’s stock valued at $717,000 after purchasing an additional 25 shares during the period. Swedbank AB raised its holdings in shares of Intuit by 3.5% in the 3rd quarter. Swedbank AB now owns 118,266 shares of the software maker’s stock valued at $73,443,000 after purchasing an additional 4,035 shares in the last quarter. Creative Planning lifted its position in shares of Intuit by 5.6% in the 3rd quarter. Creative Planning now owns 53,552 shares of the software maker’s stock worth $33,256,000 after purchasing an additional 2,836 shares during the period. Finally, Harrington Investments INC boosted its stake in shares of Intuit by 7.5% during the third quarter. Harrington Investments INC now owns 4,637 shares of the software maker’s stock valued at $2,880,000 after purchasing an additional 322 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Susquehanna reissued a “positive” rating and issued a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus raised their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Citigroup boosted their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, BMO Capital Markets raised their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,297 shares of company stock valued at $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $617.89 on Wednesday. The firm’s fifty day moving average is $631.08 and its two-hundred day moving average is $627.98. The firm has a market cap of $172.73 billion, a price-to-earnings ratio of 57.00, a PEG 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. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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 business had revenue of $3.18 billion during 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 company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Research analysts expect that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued 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 yield of 0.67%. Intuit’s dividend payout ratio is 38.38%.

Intuit Profile

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.