Ballentine Partners LLC Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Ballentine Partners LLC grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 20.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,436 shares of the software maker's stock after buying an additional 754 shares during the period. Ballentine Partners LLC's holdings in Intuit were worth $2,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. Brighton Jones LLC lifted 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 worth $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC lifted 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 worth $511,000 after acquiring an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG lifted 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 worth $1,252,000 after acquiring an additional 248 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Intuit by 78.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock worth $1,064,000 after acquiring an additional 746 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in shares of Intuit by 10.0% in the 4th quarter. Moors & Cabot Inc. now owns 723 shares of the software maker's stock worth $455,000 after acquiring an additional 66 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of several analyst reports. Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group lifted their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" 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-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Stock Up 0.6%

Shares of Intuit stock traded up $4.77 on Wednesday, reaching $750.72. The stock had a trading volume of 1,262,894 shares, compared to its average volume of 1,621,763. The company has a 50 day moving average price of $737.83 and a 200 day moving average price of $648.19. 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 1 year low of $532.65 and a 1 year high of $790.60. The stock has a market capitalization of $209.41 billion, a P/E ratio of 60.94, a P/E/G ratio of 3.34 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned $9.88 EPS. The company's quarterly revenue was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders 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 yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

Insider Activity at Intuit

In other Intuit news, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at approximately $14,704.10. This represents a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 in the last 90 days. 2.68% of the stock is owned by insiders.

Intuit 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.