Appleton Partners Inc. MA reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 23,896 shares of the software maker's stock after selling 384 shares during the period. Intuit accounts for approximately 1.1% of Appleton Partners Inc. MA's investment portfolio, making the stock its 25th largest holding. Appleton Partners Inc. MA's holdings in Intuit were worth $14,672,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Copia Wealth Management bought a new stake in shares of Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC bought a new stake in Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in Intuit in the fourth quarter valued at about $35,000. Institutional investors own 83.66% of the company's stock.
Insider Activity at Intuit
In other news, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president now owns 23,101 shares in the company, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 271,158 shares of company stock worth $202,989,194. Insiders own 2.68% of the company's stock.
Intuit Stock Down 0.5%
INTU traded down $3.52 on Tuesday, hitting $759.03. 1,900,345 shares of the company were exchanged, compared to its average volume of 1,609,684. The stock's fifty day moving average is $686.27 and its 200-day moving average is $635.14. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. 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 company has a market cap of $211.73 billion, a PE ratio of 61.61, a PEG ratio of 3.39 and a beta of 1.28.
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 the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 EPS. The firm's revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.
Intuit Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's payout ratio is 33.77%.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on INTU. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. The Goldman Sachs Group increased their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Evercore ISI upped their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. 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 assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.
Read Our Latest Report on Intuit
Intuit Profile
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Free Report)
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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