Choreo LLC Lowers Position in Intuit Inc. (NASDAQ:INTU)

Choreo LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 18.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,729 shares of the software maker's stock after selling 1,973 shares during the period. Choreo LLC's holdings in Intuit were worth $5,360,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INTU. PFG Advisors grew its holdings in shares of Intuit by 38.8% in the first quarter. PFG Advisors now owns 4,220 shares of the software maker's stock valued at $2,591,000 after purchasing an additional 1,179 shares in the last quarter. HighPoint Advisor Group LLC grew its holdings in Intuit by 5.2% during the 1st quarter. HighPoint Advisor Group LLC now owns 3,421 shares of the software maker's stock worth $2,132,000 after acquiring an additional 168 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Intuit by 26.3% during the 1st quarter. Crestwood Advisors Group LLC now owns 2,580 shares of the software maker's stock worth $1,584,000 after acquiring an additional 537 shares in the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Intuit by 1,733.3% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 110 shares of the software maker's stock worth $68,000 after acquiring an additional 104 shares in the last quarter. Finally, Gallacher Capital Management LLC grew its holdings in Intuit by 9.4% during the 1st quarter. Gallacher Capital Management LLC now owns 432 shares of the software maker's stock worth $265,000 after acquiring an additional 37 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the sale, the executive vice president owned 40,767 shares in the company, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,800 shares of company stock worth $209,725,054 in the last three months. Insiders own 2.68% of the company's stock.

Intuit Stock Up 1.1%

Shares of NASDAQ:INTU traded up $8.87 during trading on Friday, hitting $790.08. 571,405 shares of the company were exchanged, compared to its average volume of 1,771,212. The stock has a market cap of $220.39 billion, a price-to-earnings ratio of 64.14, a P/E/G ratio of 3.44 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60. The firm has a fifty day moving average price of $753.08 and a two-hundred day moving average price of $654.63. 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 (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping 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 firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter in the previous year, the firm earned $9.88 EPS. The business's quarterly revenue was up 15.1% on a year-over-year basis. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Analyst Ratings Changes

INTU has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, two have assigned 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 company presently has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

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.