Intuit Inc. (NASDAQ:INTU) Shares Sold by Integrated Advisors Network LLC

Integrated Advisors Network LLC reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 29.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,017 shares of the software maker's stock after selling 424 shares during the quarter. Integrated Advisors Network LLC's holdings in Intuit were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 13.3% during 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 last quarter. Norges Bank purchased a new stake in shares of Intuit during the fourth quarter valued at $2,290,419,000. Finally, Northern Trust Corp grew its holdings in shares of Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of Intuit stock traded down $12.23 during trading hours on Friday, reaching $753.98. The stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,611,840. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average is $664.85 and its 200 day moving average is $630.25. The firm has a market capitalization of $210.32 billion, a PE ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the company posted $9.88 EPS. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders 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 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the transaction, the insider now directly owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock valued at $213,441,865 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group set a $750.00 price objective on shares of Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Piper Sandler reissued an "overweight" rating and set a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Bank of America upped their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $850.00 price target (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $787.95.

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.