500 Shares in Intuit Inc. (NASDAQ:INTU) Bought by Callan Capital LLC

Callan Capital LLC acquired a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 500 shares of the software maker's stock, valued at approximately $307,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Traveka Wealth LLC boosted its stake in shares of Intuit by 13.4% during the 1st quarter. Traveka Wealth LLC now owns 693 shares of the software maker's stock worth $425,000 after acquiring an additional 82 shares during the last quarter. Cloud Capital Management LLC bought a new position in Intuit during the 1st quarter valued at about $65,000. Atlantic Edge Private Wealth Management LLC grew its holdings in Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after purchasing an additional 68 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in Intuit by 4.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,237 shares of the software maker's stock worth $3,216,000 after acquiring an additional 214 shares in the last quarter. Finally, World Investment Advisors grew its stake in Intuit by 19.3% in the 1st quarter. World Investment Advisors now owns 1,186 shares of the software maker's stock worth $728,000 after acquiring an additional 192 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. increased their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Morgan Stanley lifted their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Price Performance

Shares of INTU stock remained flat at $747.90 on Friday. 1,042,381 shares of the stock were exchanged, compared to its average volume of 1,619,706. The stock has a market capitalization of $208.62 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The stock's 50 day moving average price is $730.71 and its 200-day moving average price is $645.99.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.56%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Transactions at Intuit

In other news, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,800 shares of company stock valued at $209,725,054. 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.