Intuit Inc. (NASDAQ:INTU) Shares Bought by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 86,083 shares of the software maker’s stock after acquiring an additional 464 shares during the quarter. Intuit comprises 2.5% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 12th biggest position. Birch Hill Investment Advisors LLC’s holdings in Intuit were worth $53,458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Vanguard Group Inc. increased its position in shares of Intuit by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares during the period. Wellington Management Group LLP boosted its position in Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the last quarter. Fisher Asset Management LLC boosted its position in Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after purchasing an additional 270,432 shares during the last quarter. Legal & General Group Plc boosted its position in Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock valued at $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Intuit by 17.3% during the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Monday, September 30th. Bank of America boosted their price objective 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. Finally, Citigroup upped their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

NASDAQ INTU opened at $616.68 on Friday. The company’s 50 day simple moving average is $630.68 and its two-hundred day simple moving average is $628.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market capitalization of $172.39 billion, a PE ratio of 56.89, a P/E/G ratio of 3.04 and a beta of 1.24. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62.

Intuit (NASDAQ:INTU) last released its 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. The company 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 firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 EPS. Analysts predict that Intuit Inc. will post 14.04 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced 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. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s payout ratio is 38.38%.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at approximately $2,676,430.81. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $15,752,985.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was 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 directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Insiders own 2.90% of the company’s stock.

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.