D.A. Davidson & CO. Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

D.A. Davidson & CO. boosted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,257 shares of the software maker's stock after purchasing an additional 470 shares during the quarter. D.A. Davidson & CO.'s holdings in Intuit were worth $6,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Copia Wealth Management purchased a new stake in Intuit in the 4th quarter worth approximately $25,000. Summit Securities Group LLC purchased a new stake in Intuit during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter worth approximately $28,000. VSM Wealth Advisory LLC bought a new position in Intuit during the 4th quarter worth approximately $35,000. Finally, Rialto Wealth Management LLC bought a new position in Intuit during the 4th quarter worth approximately $41,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 62,816 shares of Intuit 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 sale, the insider owned 6,000,679 shares of the company's stock, valued at $4,596,460,107.21. The trade was 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 link. Also, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,661 shares of company stock valued at $206,491,776 over the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Stock Up 1.1%

INTU stock opened at $782.26 on Friday. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The business has a fifty day moving average price of $718.90 and a 200-day moving average price of $642.44. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $218.21 billion, a P/E ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27.

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 during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on INTU shares. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. Citigroup restated a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. The Goldman Sachs Group raised their target price on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Evercore ISI raised their target price on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $793.05.

About Intuit

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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