Asset Advisors Investment Management LLC Sells 606 Shares of Intuit Inc. (NASDAQ:INTU)

Asset Advisors Investment Management LLC decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,998 shares of the software maker's stock after selling 606 shares during the period. Intuit makes up 4.0% of Asset Advisors Investment Management LLC's portfolio, making the stock its 5th biggest position. Asset Advisors Investment Management LLC's holdings in Intuit were worth $38,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Legacy Investment Solutions LLC boosted its position in shares of Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after buying an additional 18 shares during the period. Financial Management Professionals Inc. boosted its holdings in Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares during the last quarter. Chris Bulman Inc boosted its holdings in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after purchasing an additional 18 shares during the last quarter. Plancorp LLC boosted its holdings in Intuit by 2.2% in the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after purchasing an additional 19 shares during the last quarter. Finally, Kolinsky Wealth Management LLC boosted its holdings in Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

INTU traded down $2.74 during trading hours on Friday, hitting $752.63. The company's stock had a trading volume of 1,504,966 shares, compared to its average volume of 1,623,500. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $209.95 billion, a PE ratio of 61.09, a PEG ratio of 3.33 and a beta of 1.27. The company has a 50-day simple moving average of $742.02 and a 200 day simple moving average of $649.76.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results 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 firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. The firm's revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INTU shares. BMO Capital Markets set a $870.00 price target on Intuit and gave the company an "outperform" rating in a report on Thursday, July 10th. Stifel Nicolaus increased their price target on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Bank of America increased their price target on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Finally, HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $800.55.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction 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 transaction, the insider directly owned 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the transaction, the executive vice president owned 23,101 shares in the company, valued at $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 in the last quarter. Company 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.