Mizuho Securities USA LLC Acquires 1,414 Shares of Intuit Inc. (NASDAQ:INTU)

Mizuho Securities USA LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,001 shares of the software maker's stock after acquiring an additional 1,414 shares during the quarter. Mizuho Securities USA LLC's holdings in Intuit were worth $14,284,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of INTU. Empirical Finance LLC raised its position in shares of Intuit by 2.3% during the third quarter. Empirical Finance LLC now owns 9,604 shares of the software maker's stock worth $5,964,000 after purchasing an additional 214 shares during the period. Signature Estate & Investment Advisors LLC lifted its position in Intuit by 2.1% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,390 shares of the software maker's stock worth $863,000 after buying an additional 28 shares in the last quarter. CIBC Asset Management Inc boosted its position in Intuit by 3.3% during the third quarter. CIBC Asset Management Inc now owns 106,497 shares of the software maker's stock valued at $66,135,000 after purchasing an additional 3,423 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of Intuit by 27.2% in the third quarter. Impax Asset Management Group plc now owns 22,248 shares of the software maker's stock valued at $13,816,000 after buying an additional 4,759 shares in the last quarter. Finally, ING Groep NV lifted its stake in Intuit by 114.1% in the third quarter. ING Groep NV now owns 94,903 shares of the software maker's stock valued at $58,935,000 after acquiring an additional 50,577 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 11,079 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 2,941 shares of Intuit stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company's stock, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,297 shares of company stock worth $35,220,046 over the last 90 days. 2.90% of the stock is owned by company insiders.

Intuit Trading Down 1.8 %

Shares of INTU stock traded down $12.89 during mid-day trading on Friday, reaching $687.87. The stock had a trading volume of 1,799,379 shares, compared to its average volume of 1,417,747. The firm has a market capitalization of $192.80 billion, a PE ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. The stock's 50-day moving average price is $633.08 and its two-hundred day moving average price is $630.09. 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 Inc. has a 52-week low of $552.68 and a 52-week high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. Equities analysts expect that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

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

Analyst Ratings Changes

A number of research firms have commented on INTU. Susquehanna reaffirmed a "positive" rating and set a $757.00 price objective on shares of Intuit in a research report on Friday, August 16th. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Barclays raised their target price on Intuit from $740.00 to $800.00 and gave the stock an "overweight" rating in a research report on Friday. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Finally, BMO Capital Markets upped their target price on Intuit from $700.00 to $760.00 and gave the stock an "outperform" rating in a research report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $739.24.

Intuit 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.