Chris Bulman Inc Acquires 17 Shares of Intuit Inc. (NASDAQ:INTU)

Chris Bulman Inc grew its stake in Intuit Inc. (NASDAQ:INTU) by 1.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,520 shares of the software maker’s stock after purchasing an additional 17 shares during the quarter. Chris Bulman Inc’s holdings in Intuit were worth $944,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. AdvisorNet Financial Inc raised its position in Intuit by 10.8% during the first quarter. AdvisorNet Financial Inc now owns 327 shares of the software maker’s stock worth $213,000 after acquiring an additional 32 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Intuit by 4.7% in the 1st quarter. Brookstone Capital Management now owns 2,141 shares of the software maker’s stock valued at $1,392,000 after purchasing an additional 97 shares during the period. Aspiriant LLC lifted its stake in Intuit by 11.6% in the 1st quarter. Aspiriant LLC now owns 404 shares of the software maker’s stock valued at $263,000 after purchasing an additional 42 shares during the last quarter. RFG Holdings Inc. bought a new position in Intuit during the first quarter worth about $361,000. Finally, Revolve Wealth Partners LLC acquired a new position in Intuit during the first quarter worth approximately $249,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,297 shares of company stock worth $35,220,046 over the last three months. Insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.7 %

Shares of NASDAQ INTU opened at $609.59 on Wednesday. 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 $473.56 and a 52 week high of $676.62. The stock has a market capitalization of $170.41 billion, a P/E ratio of 56.24, a PEG ratio of 3.04 and a beta of 1.24. The stock’s fifty day moving average is $629.40 and its 200 day moving average is $627.34.

Intuit (NASDAQ:INTU) last released its 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. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm earned $0.40 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date was Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Jefferies Financial Group raised their price objective on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Bank of America upped their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Citigroup raised their target price on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, BMO Capital Markets increased 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $735.71.

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.