Intuit Inc. (NASDAQ:INTU) Stake Lessened by Greenleaf Trust

Greenleaf Trust decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,638 shares of the software maker's stock after selling 585 shares during the period. Greenleaf Trust's holdings in Intuit were worth $5,304,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Copia Wealth Management purchased a new position in shares of Intuit during the fourth quarter valued at about $25,000. Summit Securities Group LLC purchased a new position in shares of Intuit in the 4th quarter valued at $28,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter worth $28,000. VSM Wealth Advisory LLC purchased a new stake in Intuit during the 4th quarter valued at about $35,000. Finally, Olde Wealth Management LLC purchased a new stake in Intuit during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer directly owned 197 shares of the company's stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 over the last three months. Insiders own 2.68% of the company's stock.

Intuit Price Performance

INTU stock remained flat at $747.90 during midday trading on Friday. 1,047,778 shares of the company's stock traded hands, compared to its average volume of 1,619,727. The company has a market cap of $208.62 billion, a price-to-earnings ratio of 60.71, a PEG ratio of 3.42 and a beta of 1.27. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The business has a 50-day moving average price of $730.71 and a 200-day moving average price of $645.99.

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

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.56%. Intuit's dividend payout ratio is currently 33.77%.

Analysts Set New Price Targets

A number of research firms recently weighed in on INTU. Morgan Stanley upped their price target on Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. CLSA initiated coverage on Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective on the stock. Finally, Oppenheimer reissued 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned 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 $800.55.

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.