Duncker Streett & Co. Inc. Cuts Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Duncker Streett & Co. Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 70.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,497 shares of the software maker's stock after selling 5,860 shares during the period. Duncker Streett & Co. Inc.'s holdings in Intuit were worth $1,533,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Ethos Financial Group LLC increased its stake in shares of Intuit by 3.7% in the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock valued at $319,000 after purchasing an additional 18 shares during the last quarter. Legacy Investment Solutions LLC boosted its holdings in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after acquiring an additional 18 shares in the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after acquiring an additional 18 shares in the last quarter. Finally, Chris Bulman Inc boosted its holdings in shares of Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after acquiring an additional 18 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INTU shares. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Barclays reissued an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Royal Bank Of Canada reissued an "outperform" rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $820.00 price objective (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $787.95.

Intuit Trading Up 0.2%

Shares of NASDAQ:INTU traded up $1.41 during midday trading on Monday, reaching $762.55. The company's stock had a trading volume of 1,222,841 shares, compared to its average volume of 1,608,522. The firm has a market capitalization of $212.71 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a 50 day moving average price of $686.27 and a two-hundred day moving average price of $635.14. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate 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 21.46% and a net margin of 19.07%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.88 earnings per share. As a group, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

Insider Activity

In related news, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction that occurred 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 now owns 23,101 shares of the company's stock, valued at $16,844,325.16. The trade was a 41.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 72,442 shares of Intuit 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 transaction, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,158 shares of company stock worth $202,989,194 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

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.