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

Burling Wealth Partners LLC raised its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 33.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,230 shares of the software maker's stock after buying an additional 1,547 shares during the period. Burling Wealth Partners LLC's holdings in Intuit were worth $3,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Geode Capital Management LLC raised its stake 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 buying an additional 132,384 shares in the last quarter. Wellington Management Group LLP raised its stake in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Norges Bank bought a new position in Intuit in the fourth quarter worth approximately $2,290,419,000. Finally, Brown Advisory Inc. raised its stake in Intuit by 7.9% in the first quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock worth $2,114,950,000 after buying an additional 252,265 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $2.74 during trading on Friday, reaching $752.63. 1,504,966 shares of the company's stock traded hands, compared to its average volume of 1,623,500. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm has a market cap of $209.95 billion, a PE ratio of 61.09, a P/E/G ratio of 3.33 and a beta of 1.27. The company has a 50-day simple moving average of $742.02 and a 200-day simple moving average of $649.76.

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 analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. The company's quarterly revenue was up 15.1% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Activity

In related news, EVP Alex G. Balazs sold 882 shares of Intuit stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director owned 15,474 shares in the company, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Bank of America boosted their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 price objective on shares of Intuit and gave the stock a "neutral" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Finally, Citigroup reaffirmed a "buy" rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $800.55.

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.