Empirical Finance LLC Acquires 214 Shares of Intuit Inc. (NASDAQ:INTU)

Empirical Finance LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,604 shares of the software maker’s stock after acquiring an additional 214 shares during the period. Empirical Finance LLC’s holdings in Intuit were worth $5,964,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. LGT Financial Advisors LLC bought a new stake in shares of Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new stake in shares of Intuit during the 2nd quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in shares of Intuit during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Intuit in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This represents a 18.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now directly owns 20 shares of the company’s stock, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on INTU shares. Stifel Nicolaus increased their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. BMO Capital Markets boosted their price target on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Four investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Trading Down 0.8 %

Shares of Intuit stock opened at $700.76 on Friday. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $630.03 and a 200-day moving average price of $629.21. The firm has a market cap of $196.42 billion, a price-to-earnings ratio of 67.06, a PEG ratio of 3.45 and a beta of 1.25.

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, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Equities research 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 was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were paid a $1.04 dividend. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio (DPR) is presently 39.81%.

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.