Intuit Inc. (NASDAQ:INTU) Stake Raised by Sather Financial Group Inc

Sather Financial Group Inc increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 71,623 shares of the software maker’s stock after buying an additional 508 shares during the quarter. Intuit accounts for 2.9% of Sather Financial Group Inc’s investment portfolio, making the stock its 17th biggest holding. Sather Financial Group Inc’s holdings in Intuit were worth $44,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC bought a new stake in Intuit during the second quarter worth approximately $25,000. Cultivar Capital Inc. bought a new stake in Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in Intuit during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit during the third quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit during the second quarter worth approximately $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 1.8 %

Intuit stock opened at $687.87 on Friday. The company’s fifty day simple moving average is $633.08 and its 200-day simple moving average is $630.09. 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 12 month low of $552.68 and a 12 month high of $714.78. The stock has a market cap of $192.80 billion, a P/E ratio of 65.82, a P/E/G ratio of 3.36 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company posted $0.40 EPS. Intuit’s revenue was up 17.4% on a year-over-year basis. As a group, sell-side analysts forecast that Intuit Inc. will post 14.05 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is presently 39.81%.

Insider Activity at Intuit

In related news, EVP Laura A. Fennell sold 30,159 shares of Intuit stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at approximately $33,427,129.68. The trade was a 36.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,849,183.16. Following the completion of the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. The trade was a 99.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on INTU shares. Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Barclays lifted their price target on shares of Intuit from $740.00 to $800.00 and gave the stock an “overweight” rating in a research report on Friday. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley lowered shares of Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $739.24.

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.