M3 Advisory Group LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

M3 Advisory Group LLC boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 15.5% during the third quarter, Holdings Channel.com reports. The fund owned 872 shares of the software maker’s stock after acquiring an additional 117 shares during the quarter. M3 Advisory Group LLC’s holdings in Intuit were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the period. Legal & General Group Plc raised its stake in Intuit by 1.0% during the 2nd quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the period. Ameriprise Financial Inc. raised its stake in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Principal Financial Group Inc. raised its stake in Intuit by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after acquiring an additional 56,370 shares during the period. Finally, Capital World Investors raised its stake in Intuit by 1.0% during the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock worth $772,706,000 after acquiring an additional 12,068 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley cut shares of Intuit from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Bank of America lifted their price objective on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, Citigroup lifted their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $735.71.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now directly owns 52,038 shares in the company, valued at $33,427,129.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Laura A. Fennell sold 30,159 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares of the company’s stock, valued at $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This 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. 2.90% of the stock is owned by corporate insiders.

Intuit Trading Up 0.7 %

NASDAQ INTU traded up $4.43 on Friday, hitting $613.66. 412,235 shares of the stock were exchanged, compared to its average volume of 1,320,753. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a fifty day moving average price of $630.74 and a two-hundred day moving average price of $627.72. The firm has a market capitalization of $171.55 billion, a P/E ratio of 56.20, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last issued its 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 firm had revenue of $3.18 billion during 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 revenue was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. Research analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, October 10th. Intuit’s payout ratio is presently 38.38%.

Intuit 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.