Mutual Advisors LLC Has $1.26 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Mutual Advisors LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 28.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,011 shares of the software maker's stock after selling 802 shares during the quarter. Mutual Advisors LLC's holdings in Intuit were worth $1,255,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC boosted its stake in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after buying an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after buying an additional 482 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Intuit by 14.2% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after buying an additional 248 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Intuit by 78.8% during the fourth quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock worth $1,064,000 after buying an additional 746 shares in the last quarter. Finally, Chatham Capital Group Inc. acquired a new stake in Intuit during the fourth quarter worth $219,000. Institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer owned 197 shares of the company's stock, valued at $143,047.61. This represents a 98.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Marianna Tessel sold 34,329 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,661 shares of company stock worth $206,491,776 in the last three months. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Up 1.1%

Shares of Intuit stock traded up $8.56 during trading on Friday, hitting $782.26. 822,973 shares of the company were exchanged, compared to its average volume of 1,619,864. The firm has a market capitalization of $218.21 billion, a P/E ratio of 63.49, a price-to-earnings-growth ratio of 3.47 and a beta of 1.27. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The firm's fifty day moving average price is $718.90 and its 200 day moving average price is $642.39. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its 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 company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the company earned $9.88 EPS. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio is presently 33.77%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTU. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Stifel Nicolaus boosted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Citigroup restated a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 target price (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and a consensus target price of $793.05.

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.