Fiduciary Alliance LLC Purchases 1,014 Shares of Intuit Inc. (NASDAQ:INTU)

Fiduciary Alliance LLC increased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 187.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555 shares of the software maker's stock after buying an additional 1,014 shares during the period. Fiduciary Alliance LLC's holdings in Intuit were worth $955,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. Copia Wealth Management purchased a new stake in shares of Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC increased 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 acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new position in Intuit during the 4th quarter valued at about $28,000. Finally, Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the transaction, the executive vice president now directly owns 22,796 shares of the company's stock, valued at approximately $17,148,291. The trade was a 52.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the 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 completion of the sale, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 189,804 shares of company stock worth $138,081,963 in the last three months. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup reiterated a "buy" rating and set a $789.00 target price (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. Redburn Atlantic assumed coverage on Intuit in a research note on Wednesday, February 19th. They set a "neutral" rating for the company. Evercore ISI raised their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Bank of America upped their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $785.33.

Intuit Stock Performance

NASDAQ:INTU traded down $0.17 during mid-day trading on Thursday, hitting $766.64. 1,238,153 shares of the company traded hands, compared to its average volume of 1,867,440. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The firm has a market cap of $213.85 billion, a price-to-earnings ratio of 74.43, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The stock's fifty day moving average price is $640.03 and its 200-day moving average price is $624.89.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the firm posted $9.88 EPS. The company's revenue was up 15.1% on a year-over-year basis. Research analysts anticipate 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. Investors of record on Thursday, July 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 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.