Fullcircle Wealth LLC Makes New Investment in Intuit Inc. (NASDAQ:INTU)

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

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after buying an additional 132,384 shares in the last quarter. Wellington Management Group LLP increased its stake in 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. Norges Bank purchased a new position in Intuit in the 4th quarter valued at approximately $2,290,419,000. Finally, Northern Trust Corp grew its holdings in Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 16,700 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the sale, the executive vice president directly owned 23,101 shares in the company, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer owned 197 shares of the company's stock, valued at $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,467 shares of company stock worth $209,469,167. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several analyst reports. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. Stifel Nicolaus boosted their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Citigroup reiterated a "buy" rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 price objective on Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Finally, KeyCorp reiterated an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $798.27.

Intuit Trading Down 1.5%

Shares of INTU stock traded down $11.89 during trading hours on Wednesday, reaching $769.59. The company had a trading volume of 1,486,175 shares, compared to its average volume of 1,622,729. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The company has a 50 day moving average of $725.37 and a 200 day moving average of $644.37. The firm has a market cap of $214.68 billion, a price-to-earnings ratio of 62.47, a P/E/G ratio of 3.48 and a beta of 1.27.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

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.