First Long Island Investors LLC Has $9.50 Million Position in Intuit Inc. (NASDAQ:INTU)

First Long Island Investors LLC trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 18.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,304 shares of the software maker's stock after selling 3,396 shares during the quarter. First Long Island Investors LLC's holdings in Intuit were worth $9,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of INTU. LGT Financial Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at $25,000. Cultivar Capital Inc. bought a new stake in Intuit in the 2nd quarter valued at $26,000. Fairway Wealth LLC bought a new stake in Intuit in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the 3rd quarter valued at $27,000. Finally, Hobbs Group Advisors LLC bought a new stake in Intuit in the 2nd quarter valued at $35,000. Institutional investors own 83.66% of the company's stock.

Intuit Trading Down 1.8 %

Shares of NASDAQ:INTU traded down $12.89 during mid-day trading on Friday, reaching $687.87. The stock had a trading volume of 1,798,949 shares, compared to its average volume of 1,335,732. The firm has a market cap of $192.80 billion, a PE ratio of 65.67, a price-to-earnings-growth ratio of 3.45 and a beta of 1.25. Intuit Inc. has a twelve month low of $552.68 and a twelve month high of $714.78. The firm has a 50 day simple moving average of $631.62 and a two-hundred day simple moving average of $629.71. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data 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 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 firm's revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 EPS. On average, research analysts predict that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, October 10th. This is a boost from Intuit's previous quarterly dividend of $0.90. Intuit's payout ratio is presently 39.81%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on INTU shares. JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Monday, September 30th. BMO Capital Markets upped their target price on shares of Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a report on Friday, August 23rd. Bank of America upped their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Finally, Susquehanna reiterated a "positive" rating and set a $757.00 price target on shares of Intuit in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target of $739.24.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of the business's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares of the company's stock, valued at $2,384,755.20. The trade was a 18.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 2,461 shares of the business's stock in a transaction dated 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 transaction, the insider now directly owns 6,453,105 shares of the company's stock, valued at approximately $4,111,853,974.95. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by company insiders.

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.