Integrated Investment Consultants LLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• Integrated Investment Consultants LLC sold 392 shares of Intuit, reducing its holdings by 36.8% to 674 shares, valued at $414,000.
• Intuit reported strong earnings with $11.65 EPS, exceeding estimates, and a quarterly revenue growth of 15.1% year-over-year.
• A quarterly dividend of $1.04 per share was recently paid, representing an annualized yield of 0.53%.

Integrated Investment Consultants LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 36.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 674 shares of the software maker's stock after selling 392 shares during the period. Integrated Investment Consultants LLC's holdings in Intuit were worth $414,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. HB Wealth Management LLC increased its stake in shares of Intuit by 90.1% during the first quarter. HB Wealth Management LLC now owns 12,450 shares of the software maker's stock valued at $7,645,000 after buying an additional 5,900 shares during the period. Marietta Investment Partners LLC increased its stake in shares of Intuit by 7.2% during the first quarter. Marietta Investment Partners LLC now owns 479 shares of the software maker's stock valued at $294,000 after buying an additional 32 shares during the period. Applied Finance Capital Management LLC increased its stake in shares of Intuit by 4.8% during the first quarter. Applied Finance Capital Management LLC now owns 2,915 shares of the software maker's stock valued at $1,790,000 after buying an additional 133 shares during the period. Angeles Wealth Management LLC increased its stake in shares of Intuit by 36.8% during the first quarter. Angeles Wealth Management LLC now owns 606 shares of the software maker's stock valued at $372,000 after buying an additional 163 shares during the period. Finally, DE Burlo Group Inc. increased its stake in shares of Intuit by 1.0% during the first quarter. DE Burlo Group Inc. now owns 3,100 shares of the software maker's stock valued at $1,903,000 after buying an additional 30 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

INTU stock traded up $3.81 during trading on Wednesday, reaching $810.15. The stock had a trading volume of 518,305 shares, compared to its average volume of 1,768,951. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $808.46. The stock's 50 day moving average is $760.66 and its two-hundred day moving average is $658.48. 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 firm has a market cap of $225.99 billion, a PE ratio of 65.63, a PEG ratio of 3.54 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company earned $9.88 earnings per share. Intuit's revenue was up 15.1% on a year-over-year basis. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is 33.77%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 882 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the sale, the chief financial officer owned 768 shares of the company's stock, valued at approximately $600,744.96. The trade was a 77.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on INTU shares. Morgan Stanley boosted their target price on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Oppenheimer upped their price target on Intuit from $742.00 to $868.00 and gave the stock an "outperform" rating in a research note on Monday. Stifel Nicolaus upped their price target on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. CLSA initiated 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, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. One investment 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 issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $806.27.

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.