Hilltop Holdings Inc. Raises Position in Intuit Inc. (NASDAQ:INTU)

Hilltop Holdings Inc. lifted its stake in shares of Intuit Inc. (NASDAQ:INTU) by 120.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,535 shares of the software maker’s stock after buying an additional 3,024 shares during the period. Hilltop Holdings Inc.’s holdings in Intuit were worth $3,437,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. LGT Financial Advisors LLC purchased a new stake in shares of Intuit in the second quarter valued at about $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the 2nd quarter worth about $26,000. Fairway Wealth LLC purchased a new stake in Intuit in the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit during the 3rd quarter worth approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the 2nd quarter worth approximately $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.2 %

Shares of NASDAQ INTU opened at $634.07 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $177.49 billion, a P/E ratio of 61.56, a P/E/G ratio of 3.17 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The business has a 50-day simple moving average of $634.10 and a two-hundred day simple moving average of $631.26.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $1.14 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total value of $466,015.25. Following the sale, the chief financial officer now directly owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was 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 directly owns 6,453,105 shares of the company’s stock, valued at approximately $4,111,853,974.95. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,186 shares of company stock worth $76,339,018. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTU. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Morgan Stanley boosted their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a report on Friday, November 22nd. Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Susquehanna reaffirmed a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. Six analysts have rated the stock with a hold rating and fourteen have issued 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 $737.44.

Intuit Company 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.