Intuit Inc. (NASDAQ:INTU) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. boosted its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,444,600 shares of the software maker's stock after buying an additional 252,265 shares during the quarter. Intuit makes up about 3.0% of Brown Advisory Inc.'s holdings, making the stock its 4th biggest holding. Brown Advisory Inc. owned about 1.23% of Intuit worth $2,114,950,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake 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 in the last quarter. Revolve Wealth Partners LLC boosted its holdings 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 last quarter. Bank Pictet & Cie Europe AG boosted its holdings 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 last quarter. Proficio Capital Partners LLC boosted its holdings 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 last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of Intuit by 41.2% during the 4th quarter. Edgestream Partners L.P. now owns 2,298 shares of the software maker's stock valued at $1,444,000 after acquiring an additional 671 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on INTU shares. KeyCorp reissued an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Finally, Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. One research 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 stock. According to MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $798.27.

Intuit Price Performance

Shares of NASDAQ INTU traded down $11.89 during mid-day trading on Wednesday, reaching $769.59. The company had a trading volume of 1,486,175 shares, compared to its average volume of 1,622,729. The stock has a market cap of $214.68 billion, a PE ratio of 62.47, a P/E/G ratio of 3.48 and a beta of 1.27. The company has a 50-day moving average price of $725.37 and a two-hundred day moving average price of $644.37. The company has a current ratio of 1.45, a quick 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.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. Intuit's revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $9.88 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio is 33.77%.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider directly owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,467 shares of company stock valued at $209,469,167. Corporate 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.