US Bancorp DE Sells 4,309 Shares of Intuit Inc. (NASDAQ:INTU)

US Bancorp DE lessened its position in Intuit Inc. (NASDAQ:INTU) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,858 shares of the software maker’s stock after selling 4,309 shares during the quarter. US Bancorp DE owned 0.06% of Intuit worth $82,867,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Aspire Private Capital LLC bought a new stake in shares of Intuit in the 1st quarter worth about $12,037,410,000. HHM Wealth Advisors LLC bought a new stake in shares of Intuit in the 1st quarter worth about $25,000. Raleigh Capital Management Inc. lifted its holdings in shares of Intuit by 100.0% in the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock worth $26,000 after acquiring an additional 29 shares during the last quarter. Barrett & Company Inc. bought a new stake in Intuit during the 1st quarter valued at about $29,000. Finally, WealthPLAN Partners LLC bought a new stake in Intuit during the 1st quarter valued at about $34,000. Institutional investors own 82.63% of the company’s stock.

Insider Activity at Intuit

In other news, EVP Marianna Tessel sold 7,310 shares of Intuit stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $531.31, for a total transaction of $3,883,876.10. Following the completion of the transaction, the executive vice president now owns 28,840 shares of the company’s stock, valued at approximately $15,322,980.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Marianna Tessel sold 7,310 shares of the business’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $531.31, for a total transaction of $3,883,876.10. Following the completion of the sale, the executive vice president now owns 28,840 shares in the company, valued at approximately $15,322,980.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 7,274 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $548.30, for a total value of $3,988,334.20. Following the transaction, the executive vice president now directly owns 869 shares in the company, valued at $476,472.70. The disclosure for this sale can be found here. Insiders have sold a total of 41,073 shares of company stock worth $22,091,651 in the last three months. Insiders own 3.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTU. Bank of America raised their target price on shares of Intuit from $530.00 to $580.00 and gave the company a “buy” rating in a research report on Friday, August 25th. BMO Capital Markets boosted their target price on shares of Intuit from $560.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intuit from $525.00 to $575.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. HSBC initiated coverage on shares of Intuit in a report on Friday, September 29th. They set a “hold” rating and a $520.00 target price for the company. Finally, Evercore ISI upped their price objective on shares of Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $567.41.

Intuit Stock Up 0.5 %

NASDAQ:INTU traded up $2.67 during mid-day trading on Thursday, hitting $558.21. The stock had a trading volume of 179,855 shares, compared to its average volume of 1,575,543. The company has a market capitalization of $156.47 billion, a PE ratio of 65.82, a PEG ratio of 3.23 and a beta of 1.20. Intuit Inc. has a twelve month low of $369.94 and a twelve month high of $567.03. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. The stock has a 50-day simple moving average of $520.75 and a two-hundred day simple moving average of $486.95.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.22. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.64 billion. Intuit had a net margin of 16.59% and a return on equity of 16.61%. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 11.25 EPS for the current year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Monday, October 9th were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Intuit’s previous quarterly dividend of $0.78. The ex-dividend date was Thursday, October 5th. Intuit’s dividend payout ratio (DPR) is 42.65%.

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.