506 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Inscription Capital LLC

Inscription Capital LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 506 shares of the software maker's stock, valued at approximately $329,000.

Several other hedge funds have also modified their holdings of the stock. Grimes & Company Inc. increased its stake in Intuit by 6.6% in the 1st quarter. Grimes & Company Inc. now owns 390 shares of the software maker's stock worth $240,000 after purchasing an additional 24 shares in the last quarter. Signature Wealth Management Group boosted its holdings in shares of Intuit by 4.4% in the first quarter. Signature Wealth Management Group now owns 3,197 shares of the software maker's stock worth $1,963,000 after buying an additional 134 shares during the period. Sagespring Wealth Partners LLC increased its position in shares of Intuit by 37.6% in the first quarter. Sagespring Wealth Partners LLC now owns 3,212 shares of the software maker's stock worth $1,972,000 after acquiring an additional 878 shares in the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of Intuit by 54.3% during the first quarter. Precedent Wealth Partners LLC now owns 1,486 shares of the software maker's stock valued at $913,000 after acquiring an additional 523 shares during the period. Finally, Adero Partners LLC lifted its position in shares of Intuit by 1.0% in the 1st quarter. Adero Partners LLC now owns 2,256 shares of the software maker's stock valued at $1,385,000 after acquiring an additional 23 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Oppenheimer reaffirmed an "outperform" rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Mizuho raised their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $787.95.

Intuit Stock Performance

INTU stock opened at $754.83 on Thursday. The firm has a 50 day moving average of $675.86 and a two-hundred day moving average of $632.87. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The company has a market capitalization of $210.56 billion, a price-to-earnings ratio of 61.27, a P/E/G ratio of 3.40 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The firm 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%. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the company posted $9.88 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders 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 dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is 33.77%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now owns 197 shares in the company, valued at $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,706 shares of company stock valued at $212,420,665. Corporate insiders own 2.68% of the company's stock.

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.

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