Forte Capital LLC ADV Sells 425 Shares of Intuit Inc. (NASDAQ:INTU)

Forte Capital LLC ADV lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,841 shares of the software maker's stock after selling 425 shares during the quarter. Intuit comprises 2.0% of Forte Capital LLC ADV's investment portfolio, making the stock its 12th largest position. Forte Capital LLC ADV's holdings in Intuit were worth $16,480,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INTU. Copia Wealth Management purchased a new position in shares of Intuit during the 4th quarter valued at about $25,000. Summit Securities Group LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the 4th quarter valued at about $28,000. VSM Wealth Advisory LLC purchased a new position in Intuit in the 4th quarter worth approximately $35,000. Finally, Olde Wealth Management LLC purchased a new position in Intuit in the 1st quarter worth approximately $37,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In other news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares of the company's stock, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer directly owned 197 shares in the company, valued at approximately $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Down 0.4%

Intuit stock traded down $2.74 during mid-day trading on Friday, hitting $752.63. The company had a trading volume of 1,504,966 shares, compared to its average volume of 1,623,500. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock's 50 day moving average price is $742.02 and its two-hundred day moving average price is $649.76. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60. The company has a market capitalization of $209.95 billion, a PE ratio of 61.09, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company posted $9.88 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Evercore ISI lifted their price target on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research note on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. UBS Group set a $750.00 price target on Intuit and gave the stock a "neutral" rating in a research note on Friday, May 23rd. CLSA started coverage on Intuit in a research note on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target on the stock. Finally, KeyCorp reissued an "overweight" rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $800.55.

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.