Intuit Inc. (NASDAQ:INTU) Shares Acquired by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its position in shares of Intuit Inc. (NASDAQ:INTU) by 20.1% in the second quarter, Holdings Channel.com reports. The firm owned 6,960 shares of the software maker’s stock after acquiring an additional 1,166 shares during the period. E Fund Management Co. Ltd.’s holdings in Intuit were worth $4,574,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Bradley Foster & Sargent Inc. CT grew its holdings in Intuit by 2.8% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 106,028 shares of the software maker’s stock valued at $69,683,000 after purchasing an additional 2,937 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Intuit by 5.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 39,681 shares of the software maker’s stock worth $26,079,000 after acquiring an additional 1,963 shares in the last quarter. L & S Advisors Inc grew its holdings in Intuit by 1.3% during the 2nd quarter. L & S Advisors Inc now owns 14,186 shares of the software maker’s stock worth $9,323,000 after acquiring an additional 185 shares in the last quarter. Axxcess Wealth Management LLC grew its holdings in Intuit by 85.3% during the 2nd quarter. Axxcess Wealth Management LLC now owns 12,062 shares of the software maker’s stock worth $7,927,000 after acquiring an additional 5,554 shares in the last quarter. Finally, Fairway Wealth LLC acquired a new position in Intuit during the 2nd quarter worth $26,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on INTU shares. Citigroup raised their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Wells Fargo & Company raised their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Susquehanna reissued a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Jefferies Financial Group raised their price objective on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Barclays decreased their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $720.37.

Intuit Trading Down 0.2 %

Shares of NASDAQ:INTU opened at $644.82 on Wednesday. The company has a market cap of $180.26 billion, a PE ratio of 59.49, a P/E/G ratio of 3.14 and a beta of 1.24. The company’s 50-day moving average price is $636.25 and its 200 day moving average price is $631.29. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. 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 issued its quarterly earnings data 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 firm had revenue of $3.18 billion for 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%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Sell-side analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

Insider Activity 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 transaction of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares of the company’s stock, valued at approximately $2,384,755.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The transaction was disclosed in a filing with the SEC, which can be accessed 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 transaction of $535,327.86. Following the transaction, the chief financial officer now directly owns 3,840 shares in the company, valued at approximately $2,384,755.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,940 shares of company stock worth $10,721,252 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.