Intuit Inc. (NASDAQ:INTU) Stake Increased by Alta Advisers Ltd

Alta Advisers Ltd boosted its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 43.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,328 shares of the software maker's stock after purchasing an additional 400 shares during the quarter. Alta Advisers Ltd's holdings in Intuit were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Copia Wealth Management purchased a new position in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its holdings in 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 during the last quarter. Summit Securities Group LLC purchased a new stake in Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new position in Intuit during the 4th quarter valued at $28,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Intuit in the fourth quarter worth about $35,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the sale, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the sale, the executive vice president owned 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,661 shares of company stock worth $206,491,776 over the last three months. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on INTU shares. CLSA assumed coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. The Goldman Sachs Group increased their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley reissued an "overweight" rating and issued a $785.00 target price (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Stifel Nicolaus upped their price target 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. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

Intuit Stock Up 1.1%

Shares of NASDAQ:INTU traded up $8.56 during trading on Friday, reaching $782.26. The stock had a trading volume of 822,973 shares, compared to its average volume of 1,619,453. 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 company has a market capitalization of $218.21 billion, a P/E ratio of 63.49, a PEG ratio of 3.44 and a beta of 1.27. The firm's 50-day simple moving average is $715.74 and its 200 day simple moving average is $641.72. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during 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 was up 15.1% compared to the same quarter last year. During the same period last year, the firm earned $9.88 earnings per share. As a group, research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 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.