Archford Capital Strategies LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 18.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,344 shares of the software maker's stock after selling 735 shares during the quarter. Archford Capital Strategies LLC's holdings in Intuit were worth $2,053,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after purchasing an additional 482 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after buying an additional 248 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of Intuit by 4.7% in the 4th quarter. Wealthspire Advisors LLC now owns 2,277 shares of the software maker's stock valued at $1,431,000 after purchasing an additional 102 shares during the period. Finally, World Equity Group Inc. acquired a new stake in shares of Intuit during the 4th quarter worth about $250,000. Institutional investors own 83.66% of the company's stock.
Insider Activity
In related news, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president now directly owns 40,767 shares of the company's stock, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of the company'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 value of $53,700,530.18. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,158 shares of company stock valued at $202,989,194. 2.68% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on INTU shares. Bank of America boosted their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Citigroup reissued a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. KeyCorp reissued an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a research 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.
View Our Latest Research Report on INTU
Intuit Trading Down 0.5%
Shares of INTU opened at $759.03 on Wednesday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $211.73 billion, a PE ratio of 61.61, a P/E/G ratio of 3.39 and a beta of 1.28. The business's 50-day moving average price is $689.57 and its 200-day moving average price is $636.00.
Intuit (NASDAQ:INTU - Get Free Report) last posted 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 return on equity of 21.46% and a net margin of 19.07%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $9.88 EPS. On average, equities analysts forecast 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. Shareholders 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 0.55%. Intuit's payout ratio is currently 33.77%.
About Intuit
(
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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