Caldwell Sutter Capital Inc. boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 8,400.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,400 shares of the software maker's stock after purchasing an additional 3,360 shares during the period. Intuit makes up about 1.0% of Caldwell Sutter Capital Inc.'s investment portfolio, making the stock its 19th biggest holding. Caldwell Sutter Capital Inc.'s holdings in Intuit were worth $2,088,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. NewSquare Capital LLC increased its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Ethos Financial Group LLC boosted its position in Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after buying an additional 18 shares during the last quarter. Legacy Investment Solutions LLC boosted its position in 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 buying an additional 18 shares during the last quarter. Financial Management Professionals Inc. boosted its position in Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after buying an additional 18 shares during the last quarter. Finally, Chris Bulman Inc boosted its position in Intuit by 1.2% in the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after buying an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Intuit news, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the sale, the insider now owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock valued at $213,441,865 over the last quarter. Insiders own 2.68% of the company's stock.
Wall Street Analyst Weigh In
INTU has been the subject of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Mizuho upped their price objective on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. BMO Capital Markets reissued an "outperform" rating and issued a $820.00 price objective (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.
Check Out Our Latest Analysis on Intuit
Intuit Stock Performance
NASDAQ INTU traded down $12.23 during trading hours on Friday, reaching $753.98. The company's stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,611,840. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day simple moving average of $664.85 and a 200 day simple moving average of $630.25. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The stock has a market cap of $210.32 billion, a PE ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28.
Intuit (NASDAQ:INTU - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter last year, the company posted $9.88 earnings per share. Intuit's revenue was up 15.1% on a year-over-year basis. Equities research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.
Intuit Announces Dividend
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 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 0.55%. Intuit's dividend payout ratio is currently 33.77%.
Intuit Profile
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Free Report)
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.
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