Arcadia Investment Management Corp MI Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Arcadia Investment Management Corp MI decreased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 48.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,397 shares of the software maker's stock after selling 7,793 shares during the quarter. Arcadia Investment Management Corp MI's holdings in Intuit were worth $5,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Copia Wealth Management purchased a new stake in shares of Intuit in the fourth quarter valued at $25,000. Summit Securities Group LLC purchased a new position in Intuit in the 4th quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Intuit in the 4th quarter worth about $28,000. VSM Wealth Advisory LLC purchased a new position in Intuit in the 4th quarter worth about $35,000. Finally, Olde Wealth Management LLC purchased a new position in Intuit in the 1st quarter worth about $37,000. Institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU remained flat at $747.90 during mid-day trading on Friday. 1,047,778 shares of the company were exchanged, compared to its average volume of 1,619,727. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60. The company has a 50-day moving average of $730.71 and a two-hundred day moving average of $645.99. The stock has a market capitalization of $208.62 billion, a price-to-earnings ratio of 60.71, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released 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 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business earned $9.88 EPS. The firm's quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate 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 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 yield of 0.56%. Intuit's payout ratio is 33.77%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INTU. Wall Street Zen raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Bank of America raised their target price on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Stifel Nicolaus raised their target price 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. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 price target on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. 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 company's stock. According to data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average price target of $800.55.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the sale, the executive vice president directly owned 22,796 shares of the company's stock, valued at $17,148,291. This represents a 52.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president directly owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,800 shares of company stock worth $209,725,054. Corporate insiders own 2.68% of the company's stock.

About Intuit

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.