Ashton Thomas Private Wealth LLC Purchases 135 Shares of Intuit Inc. (NASDAQ:INTU)

Ashton Thomas Private Wealth LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,898 shares of the software maker’s stock after acquiring an additional 135 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Intuit were worth $3,663,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Intuit in the second quarter worth $184,982,000. Ameriprise Financial Inc. increased its stake in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock worth $1,062,578,000 after acquiring an additional 238,486 shares during the period. Finally, Clearbridge Investments LLC increased its stake in shares of Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock worth $633,766,000 after acquiring an additional 169,190 shares during the period. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

Shares of NASDAQ INTU opened at $697.35 on Tuesday. The firm has a market capitalization of $195.46 billion, a P/E ratio of 66.73, a PEG ratio of 3.34 and a beta of 1.25. Intuit Inc. has a one year low of $523.32 and a one year high of $698.96. The company’s fifty day moving average is $626.88 and its two-hundred day moving average is $628.23. 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 released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. Analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 39.81%.

Insider Activity

In other news, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the transaction, the insider now owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Intuit news, CFO Sandeep Aujla sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total value of $2,469,120.00. Following the completion of the sale, the chief financial officer now owns 452 shares of the company’s stock, valued at $279,010.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the completion of the sale, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,297 shares of company stock valued at $35,220,046 in the last 90 days. 2.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTU. Bank of America increased their price target on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets raised their price objective on shares of Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

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.