Capital Asset Advisory Services LLC Has $2.97 Million Position in Intuit Inc. (NASDAQ:INTU)

Capital Asset Advisory Services LLC decreased its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,790 shares of the software maker's stock after selling 472 shares during the period. Capital Asset Advisory Services LLC's holdings in Intuit were worth $2,974,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in INTU. Norges Bank bought a new position in Intuit in the fourth quarter valued at about $2,290,419,000. GAMMA Investing LLC lifted its stake in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares during the period. Proficio Capital Partners LLC lifted its stake in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after buying an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after buying an additional 771,232 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer now directly owns 197 shares of the company's stock, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,804 shares of company stock valued at $138,081,963 in the last three months. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Up 0.3%

Intuit stock traded up $2.15 during midday trading on Wednesday, reaching $766.81. The stock had a trading volume of 1,280,715 shares, compared to its average volume of 1,618,878. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm's fifty day simple moving average is $636.68 and its 200-day simple moving average is $623.91. The stock has a market capitalization of $213.90 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $771.02.

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 for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business's revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $9.88 earnings per share. As a group, analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio is presently 33.77%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. The Goldman Sachs Group increased their target price on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. raised their price target on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One equities 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

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.