Elser Financial Planning Inc Buys New Stake in Intuit Inc. (NASDAQ:INTU)

Elser Financial Planning Inc purchased a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 430 shares of the software maker's stock, valued at approximately $264,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after buying an additional 353,185 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after purchasing an additional 132,384 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Norges Bank bought a new position in shares of Intuit during the 4th quarter valued at about $2,290,419,000. Finally, Northern Trust Corp raised its holdings in shares of Intuit by 17.3% during the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

INTU traded down $3.52 during midday trading on Tuesday, hitting $759.03. 1,900,345 shares of the company traded hands, compared to its average volume of 1,609,684. The company's 50-day moving average is $686.27 and its 200 day moving average is $635.14. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The firm has a market capitalization of $211.73 billion, a PE ratio of 61.61, a price-to-earnings-growth ratio of 3.39 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 posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS 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 the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.88 EPS. On average, research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's dividend payout ratio is currently 33.77%.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president now owns 23,101 shares in the company, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 271,158 shares of company stock valued at $202,989,194 in the last quarter. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Bank of America upped their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $742.00 target price (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Wells Fargo & Company set a $880.00 price objective on Intuit and gave the company an "overweight" rating in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $787.95.

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.