Intuit Inc. (NASDAQ:INTU) Shares Sold by Boston Common Asset Management LLC

Boston Common Asset Management LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 17.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 35,705 shares of the software maker’s stock after selling 7,805 shares during the quarter. Boston Common Asset Management LLC’s holdings in Intuit were worth $22,173,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. LGT Financial Advisors LLC bought a new stake in Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in shares of Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC purchased a new position in Intuit in the 2nd quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Intuit in the second quarter worth approximately $35,000. Finally, Trifecta Capital Advisors LLC boosted its stake in Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after purchasing an additional 35 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. 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 this link. Also, CFO Sandeep Aujla sold 862 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,297 shares of company stock worth $32,750,926. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on INTU shares. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Barclays cut their price objective on Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets lifted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

Intuit stock opened at $619.30 on Friday. Intuit Inc. has a 52-week low of $473.56 and a 52-week 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 stock has a fifty day moving average price of $631.19 and a two-hundred day moving average price of $628.88. The firm has a market capitalization of $173.58 billion, a P/E ratio of 59.26, a P/E/G ratio of 3.04 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm’s quarterly revenue was up 17.4% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be given a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s payout ratio is presently 34.45%.

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.