Signature Estate & Investment Advisors LLC Has $863,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Signature Estate & Investment Advisors LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 2.1% during the third quarter, HoldingsChannel reports. The firm owned 1,390 shares of the software maker’s stock after acquiring an additional 28 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Intuit were worth $863,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of INTU. Legal & General Group Plc lifted its stake in shares of Intuit by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Intuit by 17.3% in the 2nd 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 last quarter. Principal Financial Group Inc. lifted its stake in shares of Intuit by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after acquiring an additional 56,370 shares during the last quarter. Capital World Investors lifted its stake in shares of Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after acquiring an additional 12,068 shares during the last quarter. Finally, Unisphere Establishment lifted its stake in shares of Intuit by 4.2% in the 2nd quarter. Unisphere Establishment now owns 1,000,000 shares of the software maker’s stock valued at $657,210,000 after acquiring an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock opened at $687.87 on Friday. The company has a market capitalization of $192.80 billion, a P/E ratio of 65.82, a price-to-earnings-growth ratio of 3.45 and a beta of 1.25. 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 52-week low of $552.68 and a 52-week high of $714.78. The business has a 50-day simple moving average of $633.08 and a two-hundred day simple moving average of $630.06.

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

Intuit Increases Dividend

The business also recently declared 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. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 39.81%.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the completion of the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 89.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,297 shares of company stock worth $35,220,046. Insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. raised their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Barclays lifted their price objective on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group lifted their price objective on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $739.24.

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.