Lindbrook Capital LLC Sells 205 Shares of Intuit Inc. (NASDAQ:INTU)

by · The Markets Daily

Lindbrook Capital LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU – Free Report) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,722 shares of the software maker’s stock after selling 205 shares during the quarter. Intuit comprises 0.6% of Lindbrook Capital LLC’s investment portfolio, making the stock its 28th largest position. Lindbrook Capital LLC’s holdings in Intuit were worth $6,658,000 as of its most recent SEC filing.

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

Intuit Trading Up 1.5 %

Shares of NASDAQ:INTU opened at $684.22 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Intuit Inc. has a 1 year low of $513.97 and a 1 year high of $688.88. The company has a market cap of $191.78 billion, a P/E ratio of 65.48, a PEG ratio of 3.17 and a beta of 1.25. The stock’s fifty day moving average price is $625.54 and its 200-day moving average price is $627.81.

Intuit (NASDAQ:INTU – Get Free Report) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.61%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, October 10th. Intuit’s dividend payout ratio is presently 39.81%.

Insider Transactions at Intuit

In other news, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $617.28, for a total transaction of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 2,461 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the sale, the insider now 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 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 ninety days. Insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research analyst reports. Bank of America upped their target price on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets increased their price objective on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Stifel Nicolaus boosted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Jefferies Financial Group upped their target price on shares of Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Susquehanna reissued a “positive” rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $735.71.

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About Intuit

(Free Report)

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.

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