Fiduciary Family Office LLC Buys Shares of 724 Intuit Inc. (NASDAQ:INTU)

Key Points

• Fiduciary Family Office LLC has acquired 724 shares of Intuit Inc. (NASDAQ:INTU), valued at approximately $445,000, indicating institutional interest in the company.
• Recent analyst ratings show a generally positive outlook for Intuit, with several firms setting target prices above $700, and just one analyst issuing a sell rating.
• Insider sell transactions have raised concerns, as Scott D. Cook and EVP Marianna Tessel sold significant amounts of their shares recently, which might indicate diminished confidence in the company's stock.

Fiduciary Family Office LLC bought a new position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 724 shares of the software maker's stock, valued at approximately $445,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Charles Schwab Investment Management Inc. boosted its stake in Intuit by 4.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,841,590 shares of the software maker's stock valued at $1,130,718,000 after buying an additional 82,419 shares during the last quarter. Pinnacle Financial Partners Inc boosted its stake in Intuit by 3.6% during the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock valued at $10,922,000 after buying an additional 623 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new position in Intuit during the fourth quarter valued at approximately $109,988,000. Malaga Cove Capital LLC boosted its stake in Intuit by 110.6% during the first quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker's stock valued at $537,000 after buying an additional 459 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Intuit during the first quarter valued at $2,285,000. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction dated 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 sale, the insider owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the sale, the executive vice president owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research reports. Susquehanna reiterated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a report on Wednesday, April 23rd. Finally, Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $806.27.

Intuit Stock Up 1.0%

INTU traded up $7.39 during trading on Tuesday, hitting $713.48. The stock had a trading volume of 2,145,981 shares, compared to its average volume of 1,558,207. The stock has a 50 day simple moving average of $768.10 and a two-hundred day simple moving average of $668.87. The company has a market capitalization of $199.03 billion, a PE ratio of 57.91, a PEG ratio of 2.72 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $9.88 EPS. On average, research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

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.