Intuit Inc. (NASDAQ:INTU) Shares Purchased by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC raised its stake in Intuit Inc. (NASDAQ:INTUGet Rating) by 17.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,969 shares of the software maker’s stock after purchasing an additional 299 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Intuit were worth $966,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INTU. AGF Investments LLC lifted its stake in Intuit by 167.4% during the 1st quarter. AGF Investments LLC now owns 1,158 shares of the software maker’s stock worth $557,000 after acquiring an additional 725 shares in the last quarter. Covestor Ltd lifted its position in shares of Intuit by 12.4% during the first quarter. Covestor Ltd now owns 508 shares of the software maker’s stock worth $245,000 after purchasing an additional 56 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Intuit by 12.9% in the first quarter. Daiwa Securities Group Inc. now owns 30,114 shares of the software maker’s stock valued at $14,480,000 after acquiring an additional 3,440 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Intuit by 10.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 20,547 shares of the software maker’s stock valued at $9,880,000 after purchasing an additional 1,935 shares during the last quarter. Finally, Bartlett & Co. LLC lifted its position in shares of Intuit by 55.3% during the 4th quarter. Bartlett & Co. LLC now owns 1,165 shares of the software maker’s stock worth $749,000 after purchasing an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INTU. BMO Capital Markets raised their price target on Intuit from $475.00 to $533.00 and gave the company an “outperform” rating in a research note on Wednesday, August 17th. KeyCorp boosted their target price on Intuit from $475.00 to $525.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 24th. Evercore ISI increased their price target on shares of Intuit from $500.00 to $601.00 and gave the company an “outperform” rating in a research note on Wednesday, August 24th. Moffett Nathanson assumed coverage on shares of Intuit in a report on Thursday. They issued an “outperform” rating and a $500.00 target price for the company. Finally, Stifel Nicolaus lifted their price target on shares of Intuit from $465.00 to $525.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Two equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and an average target price of $566.89.

Intuit Trading Down 2.9 %

Shares of INTU stock opened at $396.71 on Friday. Intuit Inc. has a twelve month low of $339.36 and a twelve month high of $716.86. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $442.39 and its two-hundred day moving average is $429.18. The company has a market capitalization of $111.82 billion, a P/E ratio of 54.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.19.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings data on Tuesday, August 23rd. The software maker reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.12. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same period last year, the business posted $1.28 EPS. Equities analysts forecast that Intuit Inc. will post 9.1 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 18th. Shareholders of record on Monday, October 10th will be given a $0.78 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Thursday, October 6th. This represents a $3.12 annualized dividend and a yield of 0.79%. Intuit’s dividend payout ratio is presently 37.52%.

Insider Buying and Selling at Intuit

In other news, CFO Michelle M. Clatterbuck sold 6,768 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the transaction, the chief financial officer now directly owns 1,350 shares of the company’s stock, valued at approximately $607,500. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Michelle M. Clatterbuck sold 6,768 shares of Intuit stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $450.00, for a total transaction of $3,045,600.00. Following the completion of the sale, the chief financial officer now directly owns 1,350 shares in the company, valued at approximately $607,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 22,250 shares of the company’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $463.21, for a total value of $10,306,422.50. Following the completion of the sale, the chief executive officer now owns 60,208 shares in the company, valued at approximately $27,888,947.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 39,318 shares of company stock valued at $18,027,628. 3.27% of the stock is owned by company insiders.

Intuit Profile

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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