Intuit Inc. (NASDAQ:INTU) Shares Acquired by Fort Pitt Capital Group LLC

Fort Pitt Capital Group LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 31.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,096 shares of the software maker’s stock after purchasing an additional 747 shares during the period. Fort Pitt Capital Group LLC’s holdings in Intuit were worth $1,922,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter worth about $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter worth about $26,000. Fairway Wealth LLC acquired a new position in Intuit in the second quarter worth about $26,000. Northwest Investment Counselors LLC bought a new position in Intuit in the third quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in Intuit in the second quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of Intuit stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

Intuit Price Performance

NASDAQ INTU opened at $621.74 on Friday. Intuit Inc. has a 12 month low of $489.55 and a 12 month high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $174.27 billion, a PE ratio of 59.50, a P/E/G ratio of 2.98 and a beta of 1.25. The company’s 50 day simple moving average is $622.92 and its 200 day simple moving average is $626.54.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $3.08 billion. During the same quarter last year, the business earned $0.40 earnings per share. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts forecast 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. Investors of record on Thursday, October 10th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Barclays cut their target price on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Jefferies Financial Group raised their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. 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 report on Friday, August 23rd. BMO Capital Markets raised their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average target price of $735.71.

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.