Accurate Wealth Management LLC Has $384,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Accurate Wealth Management LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 67.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 653 shares of the software maker's stock after selling 1,324 shares during the period. Accurate Wealth Management LLC's holdings in Intuit were worth $384,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INTU. Norges Bank acquired a new stake in Intuit during the fourth quarter valued at $2,290,419,000. GAMMA Investing LLC increased its position in 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 purchasing an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intuit by 33.5% during 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 valued at $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Finally, Wellington Management Group LLP grew 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 buying an additional 620,559 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marianna Tessel sold 7,385 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the sale, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on INTU shares. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Bank of America raised their price objective on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $825.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $2.65 during trading on Wednesday, hitting $764.75. 1,275,593 shares of the stock were exchanged, compared to its average volume of 1,618,583. The company has a market capitalization of $213.32 billion, a price-to-earnings ratio of 74.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45. The company's fifty day simple moving average is $652.38 and its 200-day simple moving average is $627.65.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.88 earnings per share. Sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders 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 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is 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.