Ellsworth Advisors LLC Purchases 128 Shares of Intuit Inc. (NASDAQ:INTU)

Ellsworth Advisors LLC lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% during the second quarter, HoldingsChannel reports. The firm owned 9,668 shares of the software maker’s stock after purchasing an additional 128 shares during the quarter. Intuit comprises about 1.8% of Ellsworth Advisors LLC’s holdings, making the stock its 8th largest holding. Ellsworth Advisors LLC’s holdings in Intuit were worth $6,354,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in INTU. Carnegie Capital Asset Management LLC raised its holdings in Intuit by 12.4% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 689 shares of the software maker’s stock valued at $430,000 after acquiring an additional 76 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of Intuit by 30.7% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 797 shares of the software maker’s stock worth $498,000 after purchasing an additional 187 shares during the period. Dakota Wealth Management raised its holdings in shares of Intuit by 5.4% during the fourth quarter. Dakota Wealth Management now owns 4,113 shares of the software maker’s stock worth $2,571,000 after purchasing an additional 210 shares during the period. Bison Wealth LLC raised its holdings in shares of Intuit by 6.8% during the fourth quarter. Bison Wealth LLC now owns 584 shares of the software maker’s stock worth $365,000 after purchasing an additional 37 shares during the period. Finally, Keel Point LLC raised its holdings in shares of Intuit by 10.9% during the fourth quarter. Keel Point LLC now owns 1,331 shares of the software maker’s stock worth $832,000 after purchasing an additional 131 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

NASDAQ INTU traded up $1.39 on Friday, reaching $653.53. The company’s stock had a trading volume of 765,771 shares, compared to its average volume of 1,317,588. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a market cap of $182.69 billion, a PE ratio of 60.29, a PEG ratio of 3.14 and a beta of 1.23. The firm’s 50 day moving average is $631.87 and its two-hundred day moving average is $633.79.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same period in the prior year, the company earned $7.80 EPS. Intuit’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research reports. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Stifel Nicolaus lowered their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Jefferies Financial Group restated a “buy” rating and set a $770.00 price target on shares of Intuit in a research report on Thursday, June 13th. Finally, Royal Bank of Canada began coverage on shares of Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target for the company. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $691.77.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is currently owned by corporate insiders.

Intuit Company 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.