Amalgamated Bank Purchases 1,079 Shares of Intuit Inc. (NASDAQ:INTU)

Amalgamated Bank lifted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,302 shares of the software maker's stock after buying an additional 1,079 shares during the period. Amalgamated Bank's holdings in Intuit were worth $37,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Copia Wealth Management purchased a new stake in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter worth $28,000. Finally, VSM Wealth Advisory LLC bought a new position in Intuit in the 4th quarter worth $35,000. Institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer now directly owns 455 shares of the company's stock, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the transaction, the executive vice president now owns 19 shares in the company, valued at $13,775. This trade represents a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 272,896 shares of company stock valued at $204,351,942 over the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Trading Up 0.5%

INTU stock opened at $776.57 on Monday. The firm has a fifty day moving average price of $700.54 and a 200 day moving average price of $638.14. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $787.22. The firm has a market cap of $216.62 billion, a PE ratio of 63.03, a price-to-earnings-growth ratio of 3.45 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping 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 business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the company posted $9.88 EPS. The business's revenue was up 15.1% on a year-over-year basis. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

Several analysts have issued reports on INTU shares. Jefferies Financial Group set a $850.00 price target on Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. BMO Capital Markets restated an "outperform" rating and set a $820.00 target price (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $793.05.

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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