Intuit Inc. (NASDAQ:INTU) Stake Lessened by Blue Trust Inc.

Blue Trust Inc. decreased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 38.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 648 shares of the software maker's stock after selling 400 shares during the period. Blue Trust Inc.'s holdings in Intuit were worth $398,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of INTU. NewSquare Capital LLC lifted its stake in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Ethos Financial Group LLC lifted its holdings in Intuit by 3.7% in the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after acquiring an additional 18 shares during the last quarter. Legacy Investment Solutions LLC grew its holdings in shares of Intuit by 18.0% during the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock valued at $68,000 after purchasing an additional 18 shares during the last quarter. Financial Management Professionals Inc. lifted its holdings in shares of Intuit by 18.4% in the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares during the last quarter. Finally, Chris Bulman Inc grew its stake in Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after buying an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Price Performance

INTU stock opened at $761.14 on Monday. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The firm has a 50-day moving average of $682.89 and a two-hundred day moving average of $634.33. The firm has a market capitalization of $212.32 billion, a PE ratio of 61.78, a P/E/G ratio of 3.39 and a beta of 1.28. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The firm's quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Analyst Ratings Changes

Several brokerages recently weighed in on INTU. The Goldman Sachs Group lifted their price objective on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. BMO Capital Markets reiterated an "outperform" rating and set a $820.00 price target (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president now owns 40,767 shares in the company, valued at $31,017,164.28. This represents a 45.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the transaction, the insider now owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,158 shares of company stock valued at $202,989,194. 2.68% of the stock is owned by 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.

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