L & S Advisors Inc Has $9.32 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

L & S Advisors Inc boosted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,186 shares of the software maker’s stock after buying an additional 185 shares during the period. Intuit makes up about 1.1% of L & S Advisors Inc’s holdings, making the stock its 23rd biggest position. L & S Advisors Inc’s holdings in Intuit were worth $9,323,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC purchased a new position in shares of Intuit during the 2nd quarter valued at $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the second quarter valued at $26,000. Fairway Wealth LLC purchased a new position in Intuit in the second quarter valued at about $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Intuit during the 2nd quarter worth about $35,000. Finally, Sachetta LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at approximately $2,170,682.91. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total value of $628,215.00. Following the completion of the sale, the executive vice president now owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,940 shares of company stock worth $10,721,252. 2.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Susquehanna restated a “positive” rating and issued a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Jefferies Financial Group lifted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Finally, Citigroup upped their price target on Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $720.37.

Intuit Stock Down 1.4 %

NASDAQ INTU opened at $646.25 on Tuesday. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The stock has a market cap of $180.66 billion, a PE ratio of 59.62, a PEG ratio of 3.14 and a beta of 1.24. The firm has a 50-day simple moving average of $636.37 and a 200 day simple moving average of $631.44. 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 announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. On average, research analysts forecast that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.64%. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 38.38%.

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.