Golden State Wealth Management LLC Buys 573 Shares of Intuit Inc. (NASDAQ:INTU)

Golden State Wealth Management LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 171.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 908 shares of the software maker's stock after purchasing an additional 573 shares during the period. Golden State Wealth Management LLC's holdings in Intuit were worth $558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. NewSquare Capital LLC boosted its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Ethos Financial Group LLC increased its holdings in Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after buying an additional 18 shares during the last quarter. Legacy Investment Solutions LLC raised its position in Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after acquiring an additional 18 shares during the period. Financial Management Professionals Inc. boosted its stake in shares of Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after acquiring an additional 18 shares during the last quarter. Finally, Chris Bulman Inc grew its position in shares of Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after acquiring an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the completion of the sale, the executive vice president now directly owns 40,767 shares of the company's stock, valued at approximately $31,017,164.28. The trade was a 45.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 271,158 shares of company stock valued at $202,989,194. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of several analyst reports. CLSA assumed coverage on Intuit in a research report on Thursday. They set an "outperform" rating and a $900.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. The Goldman Sachs Group increased their target price on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Oppenheimer reaffirmed an "outperform" rating and set a $742.00 price target (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $793.05.

Intuit Price Performance

Intuit stock traded up $3.71 during mid-day trading on Friday, reaching $776.57. 2,051,675 shares of the company's stock traded hands, compared to its average volume of 1,613,491. The stock has a 50 day moving average of $696.71 and a two-hundred day moving average of $637.71. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $787.09. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a market cap of $216.62 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 3.37 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the previous year, the company posted $9.88 earnings per share. The firm's quarterly revenue was up 15.1% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share 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 $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's payout ratio is currently 33.77%.

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.