Creekmur Asset Management LLC Boosts Position in Intuit Inc. (NASDAQ:INTU)

Creekmur Asset Management LLC increased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1,400.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375 shares of the software maker's stock after purchasing an additional 350 shares during the quarter. Creekmur Asset Management LLC's holdings in Intuit were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Copia Wealth Management bought a new stake in Intuit in the 4th quarter worth $25,000. Summit Securities Group LLC bought a new stake in Intuit in the 4th quarter worth $28,000. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth $28,000. VSM Wealth Advisory LLC bought a new stake in Intuit in the 4th quarter worth $35,000. Finally, Olde Wealth Management LLC bought a new stake in Intuit in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on INTU. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. The Goldman Sachs Group lifted their target price on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. KeyCorp reaffirmed an "overweight" rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. CLSA assumed coverage on shares of Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Finally, Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $800.55.

Intuit Stock Performance

INTU stock traded down $2.74 during midday trading on Friday, reaching $752.63. 1,504,966 shares of the company's stock traded hands, compared to its average volume of 1,626,739. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $790.60. The stock has a market cap of $209.95 billion, a P/E ratio of 61.09, a PEG ratio of 3.34 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's 50-day moving average is $743.99 and its 200 day moving average is $650.62.

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

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's payout ratio is 33.77%.

Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the transaction, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer owned 197 shares of the company's stock, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 in the last ninety days. Corporate 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.