Intuit Inc. (NASDAQ:INTU) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 21.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,172 shares of the software maker's stock after selling 5,735 shares during the quarter. Atria Investments Inc's holdings in Intuit were worth $13,000,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after purchasing an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after purchasing an additional 482 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after purchasing an additional 248 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Intuit by 1.7% in the 4th quarter. American Century Companies Inc. now owns 50,534 shares of the software maker's stock valued at $31,761,000 after purchasing an additional 845 shares in the last quarter. Finally, Modern Wealth Management LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $249,000. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $4.74 during trading on Friday, reaching $785.95. 1,406,369 shares of the company traded hands, compared to its average volume of 1,373,122. The firm's fifty day simple moving average is $755.39 and its 200 day simple moving average is $655.80. The stock has a market cap of $219.24 billion, a P/E ratio of 63.79, a PEG ratio of 3.47 and a beta of 1.27. Intuit Inc. has a 12-month low of $532.65 and a 12-month 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.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the business posted $9.88 EPS. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Insider Buying and Selling at Intuit

In other news, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction dated 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 sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at $356,760.95. This represents a 79.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Sandeep Aujla sold 2,591 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the sale, the chief financial officer directly owned 768 shares in the company, valued at approximately $600,744.96. The trade was a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INTU shares. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. CLSA assumed coverage on Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price objective for the company. The Goldman Sachs Group raised their price objective on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Susquehanna reissued a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Finally, BMO Capital Markets raised their price objective on Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. One investment 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. According to MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $800.55.

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.