Brio Consultants LLC Takes Position in Intuit Inc. (NASDAQ:INTU)

Key Points

• Brio Consultants LLC acquired a new stake in Intuit Inc. by purchasing 415 shares valued at approximately $255,000.
• Intuit reported earnings of $11.65 EPS for the quarter, exceeding estimates and showing a revenue increase of 15.1% year-over-year.
• The company declared a quarterly dividend of $1.04, resulting in an annualized dividend yield of 0.52%.

Brio Consultants LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 415 shares of the software maker's stock, valued at approximately $255,000.

A number of other institutional investors also recently modified their holdings of INTU. Brighton Jones LLC lifted its holdings in shares of Intuit by 61.3% in the fourth 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 Intuit by 145.6% during the fourth 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 raised its holdings in Intuit by 14.2% during the fourth 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. Summit Securities Group LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. Finally, RWA Wealth Partners LLC raised its holdings in Intuit by 12.9% during the fourth quarter. RWA Wealth Partners LLC now owns 3,795 shares of the software maker's stock worth $2,385,000 after acquiring an additional 433 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

Intuit stock opened at $798.73 on Tuesday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $800.50. The stock's 50 day moving average is $757.95 and its 200-day moving average is $657.44. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $222.81 billion, a price-to-earnings ratio of 64.83, a PEG ratio of 3.49 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results 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 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 the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current 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 given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. CLSA assumed coverage on Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Finally, Oppenheimer upped their target price on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $806.27.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 1,147 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the sale, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 in the last quarter. Company 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.

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