KFA Private Wealth Group LLC Purchases Shares of 455 Intuit Inc. (NASDAQ:INTU)

KFA Private Wealth Group LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 455 shares of the software maker’s stock, valued at approximately $283,000.

Other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC purchased a new stake in Intuit during the second quarter valued at about $25,000. Cultivar Capital Inc. purchased a new stake in Intuit during the second quarter valued at about $26,000. Fairway Wealth LLC purchased a new stake in Intuit during the second quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in Intuit during the second quarter valued at about $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in Intuit during the second quarter valued at about $39,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.7 %

Shares of NASDAQ INTU opened at $613.29 on Friday. The stock’s 50 day moving average price is $630.40 and its two-hundred day moving average price is $627.54. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The stock has a market capitalization of $171.44 billion, a P/E ratio of 56.58, a PEG ratio of 3.04 and a beta of 1.24. 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 (NASDAQ:INTU) last announced 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 firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s dividend payout ratio is presently 38.38%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley downgraded 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 research report on Wednesday, August 14th. Jefferies Financial Group upped their target price on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup upped their target price on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 target price for the company. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 20 shares in the company, valued at approximately $12,575.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $642.36, for a total transaction of $19,372,935.24. Following the sale, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total value of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company 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.