BankPlus Wealth Management LLC Purchases Shares of 525 Intuit Inc. (NASDAQ:INTU)

BankPlus Wealth Management LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 525 shares of the software maker's stock, valued at approximately $322,000.

A number of other large investors have also made changes to their positions in INTU. Brighton Jones LLC grew its stake 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 purchasing an additional 1,350 shares during the period. Revolve Wealth Partners LLC increased its holdings in 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 in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in 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 in the last quarter. Kovack Advisors Inc. increased its holdings in Intuit by 12.7% in the 4th quarter. Kovack Advisors Inc. now owns 443 shares of the software maker's stock worth $279,000 after acquiring an additional 50 shares in the last quarter. Finally, Purkiss Capital Advisors LLC purchased a new stake in Intuit in the 4th quarter worth approximately $277,000. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of the firm's 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 now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,896 shares of company stock worth $204,351,942. Company insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INTU shares. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Morgan Stanley reissued an "overweight" rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $793.05.

Intuit Stock Performance

NASDAQ:INTU opened at $776.57 on Monday. The stock's fifty day moving average is $700.54 and its 200 day moving average is $638.14. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $787.22. The firm has a market capitalization of $216.62 billion, a PE ratio of 63.03, a PEG ratio of 3.45 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 EPS. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share 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 paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is currently 33.77%.

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.

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