Intuit Inc. (NASDAQ:INTU) Shares Sold by Southern Capital Advisors LLC

Southern Capital Advisors LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 0.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,624 shares of the software maker’s stock after selling 17 shares during the quarter. Intuit makes up 1.3% of Southern Capital Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Southern Capital Advisors LLC’s holdings in Intuit were worth $2,250,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Intech Investment Management LLC raised its stake in Intuit by 134.7% in the 1st quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after purchasing an additional 2,641 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Intuit by 33.7% during the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after buying an additional 968 shares in the last quarter. Cetera Advisors LLC raised its stake in Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after buying an additional 2,655 shares in the last quarter. Park Avenue Securities LLC lifted its stake in Intuit by 13.4% during the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after purchasing an additional 1,328 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Intuit in the 1st quarter valued at about $22,819,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

NASDAQ:INTU opened at $612.13 on Monday. The firm’s fifty day moving average price is $626.86 and its two-hundred day moving average price is $626.62. 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 company has a market cap of $171.12 billion, a P/E ratio of 56.21, a P/E/G ratio of 2.98 and a beta of 1.24. Intuit Inc. has a one year low of $481.79 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating 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 company had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company earned $0.40 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 14.04 earnings per share for the current 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 paid a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 38.38%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INTU shares. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. BMO Capital Markets lifted their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Bank of America upped their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Buying and Selling

In related 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 sale, the chief financial officer now owns 452 shares of the company’s stock, valued at approximately $279,010.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total value of $1,941,811.56. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the sale, the chief financial officer now directly owns 452 shares of the company’s stock, valued at approximately $279,010.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by insiders.

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.