Boit C F David Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Boit C F David boosted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 36.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,550 shares of the software maker's stock after purchasing an additional 1,750 shares during the quarter. Intuit comprises about 2.0% of Boit C F David's portfolio, making the stock its 20th biggest position. Boit C F David's holdings in Intuit were worth $4,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Norges Bank purchased a new position in shares of Intuit in the 4th quarter worth approximately $2,290,419,000. Finally, Northern Trust Corp raised its stake in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock worth $2,118,682,000 after acquiring an additional 498,030 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Trading Up 0.3%

NASDAQ:INTU traded up $2.32 during trading hours on Wednesday, hitting $766.98. The company had a trading volume of 607,042 shares, compared to its average volume of 1,616,294. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $213.95 billion, a P/E ratio of 74.46, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a 50-day moving average of $636.68 and a 200 day moving average of $623.91. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $768.09.

Intuit (NASDAQ:INTU - Get Free Report) last announced 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. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the business posted $9.88 earnings per share. The business's quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently disclosed 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. 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 (DPR) is currently 33.77%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent analyst reports. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Oppenheimer restated an "outperform" rating and set a $742.00 price objective (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus raised their target price on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the sale, the chief financial officer now directly owns 197 shares of the company's stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president now directly owns 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,804 shares of company stock worth $138,081,963 over the last 90 days. 2.68% of the stock is owned by insiders.

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.