5,846 Shares in Intuit Inc. (NASDAQ:INTU) Acquired by Allen Capital Group LLC

Allen Capital Group LLC acquired a new position 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 acquired 5,846 shares of the software maker's stock, valued at approximately $3,589,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 during the period. Wellington Management Group LLP grew its holdings in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Norges Bank acquired a new position in shares of Intuit in the 4th quarter valued at $2,290,419,000. Finally, Brown Advisory Inc. boosted its stake in Intuit by 7.9% during the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after purchasing an additional 252,265 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $3.25 on Friday, hitting $752.12. 584,929 shares of the company were exchanged, compared to its average volume of 1,620,041. The company's 50 day moving average price is $742.02 and its two-hundred day moving average price is $649.76. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $209.80 billion, a price-to-earnings ratio of 61.03, a PEG ratio of 3.33 and a beta of 1.27.

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

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's dividend payout ratio is currently 33.77%.

Analysts Set New Price Targets

Several brokerages recently commented on INTU. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 price target (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus upped their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Susquehanna reissued a "positive" rating on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $800.55.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock valued at $209,725,054. 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.