Intuit Inc. (NASDAQ:INTU) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 14.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,462 shares of the software maker's stock after selling 1,264 shares during the period. Axxcess Wealth Management LLC's holdings in Intuit were worth $4,581,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after acquiring an additional 1,350 shares during the period. Revolve Wealth Partners LLC grew its position 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 valued at $511,000 after acquiring an additional 482 shares during the period. Bank Pictet & Cie Europe AG grew its position in shares of Intuit by 14.2% during 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 acquiring an additional 248 shares during the period. Proficio Capital Partners LLC grew its position in shares of Intuit by 78.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock valued at $1,064,000 after acquiring an additional 746 shares during the period. Finally, Sage Mountain Advisors LLC grew its position in shares of Intuit by 9.8% during the 4th quarter. Sage Mountain Advisors LLC now owns 1,282 shares of the software maker's stock valued at $806,000 after acquiring an additional 114 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of Intuit stock remained flat at $747.90 on Friday. 1,047,778 shares of the stock were exchanged, compared to its average volume of 1,623,598. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60. The firm's 50-day moving average price is $733.03 and its 200 day moving average price is $646.71. The stock has a market cap of $208.63 billion, a PE ratio of 60.71, a P/E/G ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last announced 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 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 in the previous year, the business posted $9.88 EPS. The business's quarterly revenue was up 15.1% compared to the same quarter last year. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INTU. Stifel Nicolaus increased their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Evercore ISI upped their price target on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. Morgan Stanley upped their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the company an "overweight" rating in a research note on Friday, June 13th. Finally, Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $800.55.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were 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 directly owned 23,101 shares in the company, valued at $16,844,325.16. The trade was a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This represents a 45.71% 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. 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.