PFG Advisors Buys 1,179 Shares of Intuit Inc. (NASDAQ:INTU)

PFG Advisors boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 38.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,220 shares of the software maker's stock after buying an additional 1,179 shares during the quarter. PFG Advisors' holdings in Intuit were worth $2,591,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in INTU. Pinnacle Financial Partners Inc grew its stake in Intuit by 3.6% in the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after purchasing an additional 623 shares during the period. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Intuit during the fourth quarter valued at $109,988,000. Financial Gravity Asset Management Inc. purchased a new position in Intuit in the first quarter worth about $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Intuit in the fourth quarter worth about $237,244,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in Intuit by 16.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker's stock valued at $4,240,000 after purchasing an additional 962 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 owned 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of recent research reports. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. The Goldman Sachs Group increased their price objective on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and an average target price of $800.55.

Intuit Price Performance

Intuit stock traded up $8.86 during mid-day trading on Friday, hitting $790.07. The company's stock had a trading volume of 571,405 shares, compared to its average volume of 1,771,212. The stock's fifty day moving average price is $753.08 and its two-hundred day moving average price is $654.63. Intuit Inc. has a twelve month low of $532.65 and a twelve month 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. The stock has a market capitalization of $220.39 billion, a P/E ratio of 64.14, a P/E/G ratio of 3.44 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly 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. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter last year, the firm earned $9.88 EPS. Research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio (DPR) is currently 33.77%.

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.