Fullcircle Wealth LLC Acquires Shares of 414 Intuit Inc. (NASDAQ:INTU)

Fullcircle Wealth LLC bought a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 414 shares of the software maker's stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of INTU. Pacific Point Advisors LLC lifted its position in shares of Intuit by 3.7% in the first quarter. Pacific Point Advisors LLC now owns 5,504 shares of the software maker's stock valued at $3,380,000 after acquiring an additional 194 shares in the last quarter. YANKCOM Partnership increased its position in shares of Intuit by 17.8% during the 1st quarter. YANKCOM Partnership now owns 337 shares of the software maker's stock worth $207,000 after purchasing an additional 51 shares during the last quarter. Callan Capital LLC purchased a new stake in Intuit in the 1st quarter valued at about $307,000. Traveka Wealth LLC lifted its position in Intuit by 13.4% in the first quarter. Traveka Wealth LLC now owns 693 shares of the software maker's stock valued at $425,000 after buying an additional 82 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Intuit during the first quarter worth about $65,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president directly owned 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 in the last three months. Company insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $0.17 during trading hours on Friday, reaching $748.07. The stock had a trading volume of 215,742 shares, compared to its average volume of 1,616,521. The firm has a 50-day moving average of $730.71 and a 200-day moving average of $645.99. The firm has a market cap of $208.67 billion, a price-to-earnings ratio of 60.79, a PEG ratio of 3.42 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 Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the company earned $9.88 earnings per share. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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 paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on INTU. BMO Capital Markets set a $870.00 price target on shares of Intuit and gave the company an "outperform" rating in a research note on Thursday. Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. Barclays reiterated an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $800.55.

About Intuit

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.