Folger Nolan Fleming Douglas Capital Management Inc. Sells 500 Shares of Intuit Inc. (NASDAQ:INTU)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.4% in the third quarter, Holdings Channel.com reports. The firm owned 3,240 shares of the software maker’s stock after selling 500 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Intuit were worth $2,012,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of analysts have recently commented on INTU shares. Barclays reduced their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Stifel Nicolaus lifted their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group increased their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $735.71.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 2,941 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 775 shares of the stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 20 shares in the company, valued at approximately $12,575.20. This trade represents a 0.00 % 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 90 days. 2.90% of the stock is currently owned by corporate insiders.

Intuit Trading Down 0.4 %

Shares of INTU stock opened at $621.11 on Thursday. The stock has a fifty day simple moving average of $623.98 and a two-hundred day simple moving average of $626.49. Intuit Inc. has a 52-week low of $481.94 and a 52-week high of $676.62. The firm has a market capitalization of $173.63 billion, a PE ratio of 57.30, a PEG ratio of 2.98 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company 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 firm earned $0.40 EPS. The firm’s revenue was up 17.4% compared to the same quarter last year. On average, analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a $1.04 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Thursday, October 10th. Intuit’s payout ratio is currently 38.38%.

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.