First Long Island Investors LLC Has $9.50 Million Stake in Intuit Inc. (NASDAQ:INTU)

First Long Island Investors LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 18.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,304 shares of the software maker’s stock after selling 3,396 shares during the period. First Long Island Investors LLC’s holdings in Intuit were worth $9,504,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INTU. LGT Financial Advisors LLC acquired a new stake in Intuit during the 2nd quarter worth approximately $25,000. Cultivar Capital Inc. bought a new position in Intuit during the second quarter worth about $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Intuit during the 3rd quarter worth about $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on INTU shares. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Susquehanna reiterated a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Barclays upped their target price on Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley lowered Intuit from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $739.24.

Intuit Stock Performance

INTU traded down $17.14 during midday trading on Friday, reaching $683.62. The company had a trading volume of 363,719 shares, compared to its average volume of 1,329,268. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 1 year low of $552.68 and a 1 year high of $714.78. The business has a 50-day moving average of $631.62 and a two-hundred day moving average of $629.71. The company has a market cap of $191.61 billion, a P/E ratio of 65.67, a P/E/G ratio of 3.45 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. During the same period last year, the company earned $0.40 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, equities research analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.61%. This is an increase from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s payout ratio is 39.81%.

Insider Buying and Selling

In other Intuit news, Director Eve B. Burton sold 2,988 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 775 shares of the company’s stock in a transaction that occurred on Thursday, October 3rd. The shares were 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 of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,297 shares of company stock worth $35,220,046 in the last ninety days. 2.90% of the stock is owned by insiders.

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.