Intuit Inc. (NASDAQ:INTU) Shares Bought by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,999 shares of the software maker’s stock after buying an additional 276 shares during the period. Brown Brothers Harriman & Co.’s holdings in Intuit were worth $3,104,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INTU. Fortitude Family Office LLC raised its stake in shares of Intuit by 2.8% in the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co boosted its position in shares of Intuit by 10.5% in the second quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares during the period. Gemmer Asset Management LLC grew its position in Intuit by 3.7% in the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after acquiring an additional 16 shares in the last quarter. PFG Investments LLC boosted its stake in shares of Intuit by 1.1% during the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after buying an additional 17 shares during the last quarter. Finally, Plancorp LLC lifted its position in shares of Intuit by 2.0% in the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $634.62 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $634.58 and a 200 day moving average price of $631.24. The firm has a market capitalization of $177.77 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.13 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.66%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research analyst reports. Morgan Stanley upped their price objective on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday. Oppenheimer raised their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus reduced their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This represents a 14.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. In the last three months, insiders sold 55,265 shares of company stock valued at $35,200,125. 2.90% of the stock is currently owned by 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.