Greenleaf Trust Sells 585 Shares of Intuit Inc. (NASDAQ:INTU)

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

Other institutional investors have also recently bought and sold shares of the company. Copia Wealth Management acquired a new position in shares of Intuit during the fourth quarter worth $25,000. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. VSM Wealth Advisory LLC acquired a new position in shares of Intuit during the fourth quarter worth $35,000. Finally, Olde Wealth Management LLC acquired a new position in shares of Intuit during the first quarter worth $37,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INTU shares. UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. The Goldman Sachs Group upped their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. Bank of America upped their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and issued a $789.00 price target (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 price target (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and a consensus price target of $798.27.

Intuit Stock Down 1.5%

Shares of INTU traded down $11.89 during mid-day trading on Wednesday, reaching $769.59. The company's stock had a trading volume of 1,486,175 shares, compared to its average volume of 1,619,695. The business has a fifty day moving average of $725.37 and a 200 day moving average of $644.37. The company has a market cap of $214.68 billion, a price-to-earnings ratio of 62.47, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Insider Buying and Selling

In other news, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,738 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $356,760.95. This represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,134 shares of company stock valued at $209,207,905 in the last quarter. Insiders own 2.68% of the company's stock.

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.