Dearborn Partners LLC Has $28.10 Million Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• Dearborn Partners LLC sold 9,710 shares of Intuit Inc., reducing its stake by 17.5%, and now holds 45,770 shares valued at approximately $28.1 million.
• Intuit reported a quarterly EPS of $11.65, beating estimates, and achieved a revenue of $7.75 billion, a 15.1% increase year-over-year.
• The company recently declared a quarterly dividend of $1.04 per share, with an annualized yield of 0.52% and a payout ratio of 33.77%.

Dearborn Partners LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 17.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,770 shares of the software maker's stock after selling 9,710 shares during the quarter. Dearborn Partners LLC's holdings in Intuit were worth $28,102,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth about $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $28,000. Olde Wealth Management LLC acquired a new stake in shares of Intuit during the 1st quarter valued at about $37,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after buying an additional 68 shares during the last quarter. Finally, Hughes Financial Services LLC acquired a new stake in shares of Intuit during the 1st quarter valued at about $50,000. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

NASDAQ:INTU traded down $8.98 during trading hours on Friday, reaching $776.15. The company had a trading volume of 1,490,057 shares, compared to its average volume of 1,382,113. The stock has a 50-day moving average of $765.98 and a two-hundred day moving average of $660.69. Intuit Inc. has a one year low of $532.65 and a one year high of $813.70. The firm has a market capitalization of $216.51 billion, a PE ratio of 63.00, a PEG ratio of 3.48 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the business posted $9.88 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. 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 was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, July 10th. Intuit's dividend payout ratio is presently 33.77%.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,738 shares of the company's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the transaction, the chief accounting officer owned 455 shares of the company's stock, valued at $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INTU. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Bank of America boosted their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Oppenheimer boosted their target price on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a report on Monday. Finally, KeyCorp restated an "overweight" rating and issued a $850.00 target price (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

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.