Fullcircle Wealth LLC Invests $256,000 in Intuit Inc. (NASDAQ:INTU)

Fullcircle Wealth LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 414 shares of the software maker's stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Norges Bank purchased a new position in Intuit during the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC increased its holdings in shares of Intuit by 69,701.9% in the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after buying an additional 2,821,534 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Finally, Unisphere Establishment boosted its position in Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock valued at $942,750,000 after buying an additional 500,000 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

INTU traded down $5.18 during trading hours on Wednesday, hitting $776.30. The company's stock had a trading volume of 156,688 shares, compared to its average volume of 1,614,516. The business's 50-day moving average price is $725.37 and its 200-day moving average price is $644.37. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The stock has a market cap of $216.55 billion, a price-to-earnings ratio of 63.04, a P/E/G ratio of 3.49 and a beta of 1.27. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the business posted $9.88 earnings per share. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

Insider Buying and Selling

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the transaction, the chief accounting officer owned 455 shares in the company, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 2,591 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the transaction, the chief financial officer owned 768 shares in the company, valued at $600,744.96. This trade represents a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 278,252 shares of company stock valued at $208,518,508 in the last three months. Corporate insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. CLSA initiated coverage on shares of Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective for the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $798.27.

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.