Financial Counselors Inc. sell 112 shares of Intuit Inc. (NASDAQ:INTU)

Financial Counselors Inc. reduced its holdings in Intuit Inc. (NASDAQ:INTU – Free Report) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,651 shares of the software maker’s stock after selling 112 shares during the period. Holdings of Financial Counselors Inc. holdings in Intuit were worth $11,600,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Natixis Advisors LLC boosted its holdings in shares of Intuit by 26.9% in the second quarter. Natixis Advisors LLC now owns 384,682 shares of the software maker’s stock valued at $252,817,000 after purchasing an additional 81,567 shares during the last quarter. Equitable Trust Co. boosted its holdings in Intuit by 6.2% during the second quarter. Equitable Trust Co. now owns 5,452 shares of the software maker’s stock worth $3,583,000 after purchasing an additional 320 shares during the last quarter. DA Davidson & CO. grew its position in Intuit by 24.0% in the second quarter. DA Davidson & CO. now owns 9,260 shares of the software maker’s stock worth $6,086,000 after acquiring an additional 1,794 shares during the last quarter. Mizuho Securities Co. Ltd. grew its position in shares of Intuit by 83.3% in the second quarter. Mizuho Securities Co. Ltd. now owns 220 shares of the software maker’s stock valued at $145,000 after acquiring an additional 100 shares during the period. Finally, Drive Wealth Management LLC grew its position in shares of Intuit by 3.4% in the second quarter. Drive Wealth Management LLC now owns 750 shares of the software maker’s stock valued at $493,000 after acquiring an additional 25 shares during the period. 83.66% of the shares are currently owned by institutional investors and hedge funds.

Internal transactions at Intuit

In related news, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. In related news, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at $664,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $567.75, for a total value of $42,581,250.00. Following the completion of the transaction, the insider now owns 6,626,721 shares in the company, valued at approximately $3,762,320,847.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,367 shares of company stock worth $60,118,991. Company insiders own 2.90% of the company’s shares.

Intuit trading rose 1.2%

Shares of INTU stock opened at $630.26 on Tuesday. The stock has a 50-day simple moving average of $640.26 and a 200-day simple moving average of $633.08. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The company has a current ratio of 1.29, a quick ratio of 1.50, and a debt-to-equity ratio of 0.30. The stock has a market cap of $176.19 billion, a P/E ratio of 58.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23.

Intuit (NASDAQ:INTU – Get Your Free Report ) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the company posted EPS of $0.40. The company’s revenue was up 17.4% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit raises dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents an annualized dividend of $4.16 and a dividend yield of 0.66%. Intuit’s payout ratio is currently 38.38%.

Changes in Analyst Ratings

Several equities research analysts have recently issued reports on INTU shares. Barclays cut their price target on shares of 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 downgraded Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th . Wells Fargo & Company raised their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. UBS Group raised their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. Finally, Stifel Nicolaus upped their price objective on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company currently has a consensus rating of “Moderate Buy” and an average target price of $716.35, according to MarketBeat.com.

See the latest stock report on INTU

Intuit profile

(Free report)

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed individuals and accounting professionals in the United States, Canada and internationally. The company operates in four segments: Small Business and Self-Employed, Consumer, Credit Karma and ProTax.

Further reading

Want to see what other hedge funds INTU owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Intuit Inc. (NASDAQ:INTU – Free Report).

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