Concord Asset Management LLC VA Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Concord Asset Management LLC VA boosted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 47.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,763 shares of the software maker's stock after purchasing an additional 884 shares during the period. Concord Asset Management LLC VA's holdings in Intuit were worth $1,647,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of INTU. Legacy Investment Solutions LLC lifted its position in shares of Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. lifted its position in shares of Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares in the last quarter. Chris Bulman Inc lifted its position in shares of Intuit by 1.2% during the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares in the last quarter. Plancorp LLC lifted its position in shares of Intuit by 2.2% during the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock worth $559,000 after purchasing an additional 19 shares in the last quarter. Finally, Kolinsky Wealth Management LLC lifted its position in shares of Intuit by 1.6% during the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Down 0.4%

INTU stock traded down $3.11 during midday trading on Friday, reaching $752.26. 939,443 shares of the company were exchanged, compared to its average volume of 1,621,447. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The stock's 50-day simple moving average is $742.02 and its 200 day simple moving average is $649.76. The company has a market cap of $209.84 billion, a price-to-earnings ratio of 61.07, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the company earned $9.88 earnings per share. On average, equities analysts forecast 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. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on INTU. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Bank of America increased their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating 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. The Goldman Sachs Group raised their target price on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $800.55.

Insider Buying and Selling at Intuit

In other news, EVP Marianna Tessel sold 34,329 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction 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 trade represents a 45.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kerry J. Mclean sold 16,700 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares in the company, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. 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 company 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.