Intuit Inc. (NASDAQ:INTU) Shares Bought by Zhang Financial LLC

Zhang Financial LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 448.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,781 shares of the software maker's stock after purchasing an additional 1,456 shares during the period. Zhang Financial LLC's holdings in Intuit were worth $1,094,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Copia Wealth Management bought a new stake in Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the 4th 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. Summit Securities Group LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in Intuit during the fourth quarter worth approximately $35,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, EVP Marianna Tessel sold 34,329 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the transaction, the executive vice president now directly owns 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the business'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,408 shares of company stock worth $213,441,865. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. UBS Group set a $750.00 price objective on Intuit and gave the company a "neutral" rating in a research report on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. upped their price objective on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a research note on Friday, May 23rd. Finally, Bank of America lifted their target price on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Trading Down 1.6%

Shares of INTU stock traded down $12.23 during trading hours on Friday, reaching $753.98. 1,148,047 shares of the stock were exchanged, compared to its average volume of 1,609,672. The firm has a market capitalization of $210.32 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The company's 50-day moving average price is $660.65 and its 200-day moving average price is $629.50. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business earned $9.88 EPS. 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 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 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

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.