Greenleaf Trust Has $5.30 Million Position in Intuit Inc. (NASDAQ:INTU)

Greenleaf Trust reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC raised its position in shares of Intuit by 18.0% in the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after acquiring an additional 18 shares during the period. Financial Management Professionals Inc. increased its stake in Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after purchasing an additional 18 shares in the last quarter. Chris Bulman Inc raised its holdings in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares during the period. Plancorp LLC boosted its position in shares of Intuit by 2.2% during the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock worth $559,000 after purchasing an additional 19 shares in the last quarter. Finally, Kolinsky Wealth Management LLC grew its holdings in shares of Intuit by 1.6% in the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after buying an additional 19 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

NASDAQ INTU traded down $21.69 during trading on Thursday, reaching $747.90. 1,782,049 shares of the company's stock were exchanged, compared to its average volume of 1,622,015. The business has a 50 day moving average price of $730.71 and a 200-day moving average price of $645.99. The stock has a market capitalization of $208.63 billion, a P/E ratio of 60.71, a PEG ratio of 3.42 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings results 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. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the business earned $9.88 earnings per share. The business's revenue was up 15.1% compared to the same quarter last year. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business 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 annualized dividend and a dividend yield of 0.56%. Intuit's dividend payout ratio is currently 33.77%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider owned 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the transaction, the executive vice president directly owned 22,796 shares in the company, valued at $17,148,291. The trade was a 52.94% decrease in their position. 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.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INTU. Barclays reaffirmed an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research note on Wednesday, April 23rd. Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, BMO Capital Markets set a $870.00 target price on shares of Intuit and gave the stock an "outperform" rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $800.55.

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.