Consolidated Capital Management LLC Buys New Holdings in Intuit Inc. (NASDAQ:INTU)

Consolidated Capital Management LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 354 shares of the software maker's stock, valued at approximately $217,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in Intuit by 61.3% during the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after buying an additional 1,350 shares during the period. Revolve Wealth Partners LLC raised its holdings in Intuit by 145.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after buying an additional 482 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after buying an additional 248 shares during the period. Proficio Capital Partners LLC raised its holdings in Intuit by 78.8% during the 4th quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock worth $1,064,000 after buying an additional 746 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in Intuit by 41.2% during the 4th quarter. Edgestream Partners L.P. now owns 2,298 shares of the software maker's stock worth $1,444,000 after buying an additional 671 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Intuit stock traded down $2.13 during trading hours on Tuesday, reaching $781.48. 1,291,852 shares of the company were exchanged, compared to its average volume of 1,617,848. The firm has a market cap of $217.99 billion, a price-to-earnings ratio of 63.43, a PEG ratio of 3.47 and a beta of 1.27. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $722.21 and a 200 day moving average of $643.41. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating 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 company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the business earned $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio is 33.77%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INTU shares. Bank of America boosted their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $815.00 target price (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $798.27.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 62,816 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the transaction, the insider directly owned 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold 278,252 shares of company stock valued at $208,518,508 in the last ninety days. Company insiders own 2.68% of the company's stock.

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.