Dividend Assets Capital LLC Buys 3,262 Shares of Intuit Inc. (NASDAQ:INTU)

Dividend Assets Capital LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 44.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,595 shares of the software maker's stock after buying an additional 3,262 shares during the quarter. Intuit accounts for about 1.2% of Dividend Assets Capital LLC's investment portfolio, making the stock its 29th largest position. Dividend Assets Capital LLC's holdings in Intuit were worth $6,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of INTU. Copia Wealth Management bought a new position in shares of Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during 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 in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the 4th quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in Intuit in the fourth quarter valued at about $35,000. Institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,592 shares of company stock worth $165,325,437. 2.68% of the stock is currently owned by company insiders.

Intuit Trading Down 0.3%

INTU traded down $2.28 during trading on Tuesday, reaching $762.10. 1,422,369 shares of the company's stock were exchanged, compared to its average volume of 1,619,743. The company's fifty day moving average price is $649.11 and its 200-day moving average price is $626.71. The firm has a market capitalization of $212.59 billion, a PE ratio of 73.99, a P/E/G ratio of 2.85 and a beta of 1.28. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm's revenue was up 15.1% on a year-over-year basis. During the same period last year, the company earned $9.88 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit's payout ratio is currently 33.77%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INTU. KeyCorp restated an "overweight" rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays reissued an "overweight" rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. UBS Group set a $750.00 target price on Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

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.