Ferguson Wellman Capital Management Inc. Sells 587 Shares of Intuit Inc. (NASDAQ:INTU)

Ferguson Wellman Capital Management Inc. cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,828 shares of the software maker's stock after selling 587 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Intuit were worth $8,490,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of INTU. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC boosted its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Intuit during the 4th quarter worth about $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 1.6%

Shares of NASDAQ INTU traded down $12.23 during mid-day trading on Friday, reaching $753.98. 1,148,047 shares of the company's stock were exchanged, compared to its average volume of 1,611,840. The firm has a market capitalization of $210.32 billion, a price-to-earnings ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $664.85 and a 200 day simple moving average of $630.25. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45.

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, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit's revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the firm posted $9.88 earnings per share. As a group, equities analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 62,816 shares of Intuit stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider now directly owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark P. Notarainni sold 469 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now owns 19 shares of the company's stock, valued at $13,775. This represents a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock valued at $213,441,865 in the last 90 days. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INTU shares. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Oppenheimer reaffirmed an "outperform" rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and set a $825.00 price target (up from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group raised their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and a consensus price target of $787.95.

Intuit Company 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.