CWA Asset Management Group LLC Decreases Holdings in Intuit Inc. (NASDAQ:INTU)

CWA Asset Management Group LLC lowered its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,493 shares of the software maker's stock after selling 985 shares during the period. CWA Asset Management Group LLC's holdings in Intuit were worth $8,284,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of INTU. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. NewSquare Capital LLC grew its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit during the fourth quarter valued at $28,000. Heck Capital Advisors LLC purchased a new stake in Intuit during the 4th quarter worth about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in Intuit in the 4th quarter valued at about $35,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 0.4%

Shares of INTU opened at $764.90 on Wednesday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45. The business's 50-day moving average price is $672.69 and its 200 day moving average price is $632.02. The stock has a market capitalization of $213.37 billion, a P/E ratio of 62.09, a P/E/G ratio of 3.42 and a beta of 1.28. 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 released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the firm posted $9.88 earnings per share. The company's quarterly revenue was up 15.1% compared to the same quarter last year. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The company 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on INTU shares. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Redburn Atlantic started coverage on shares of Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer restated an "outperform" rating and issued a $742.00 target price (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and upped their price target for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $787.95.

Insider Activity at Intuit

In other Intuit 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 sale, the insider now directly owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is owned by corporate insiders.

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.

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