United Asset Strategies Inc. Purchases 109 Shares of Intuit Inc. (NASDAQ:INTU)

United Asset Strategies Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,793 shares of the software maker’s stock after acquiring an additional 109 shares during the quarter. United Asset Strategies Inc.’s holdings in Intuit were worth $1,113,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC bought a new position in Intuit in the 2nd quarter valued at about $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit in the second quarter valued at approximately $35,000. 83.66% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit 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 sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit 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 sale, the chief financial officer now owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 1.7 %

Intuit stock opened at $610.30 on Friday. Intuit Inc. has a fifty-two week low of $481.94 and a fifty-two week high of $676.62. The stock has a market cap of $171.06 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 3.04 and a beta of 1.24. The firm’s 50-day simple moving average is $622.88 and its 200 day simple moving average is $626.37. 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 (NASDAQ:INTU) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were given a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is currently 39.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. Bank of America raised their target price 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. Stifel Nicolaus raised their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Jefferies Financial Group lifted their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a research note on Wednesday, August 14th. Four 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, Intuit currently has an average rating of “Moderate Buy” and a consensus 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.