Figure 8 Investment Strategies LLC Sells 350 Shares of Intuit Inc. (NASDAQ:INTU)

Figure 8 Investment Strategies LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 43.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 460 shares of the software maker's stock after selling 350 shares during the quarter. Figure 8 Investment Strategies LLC's holdings in Intuit were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management purchased a new position in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC boosted its holdings in Intuit by 72.0% in 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. Summit Securities Group LLC purchased a new position in shares of Intuit in the 4th quarter worth $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit during the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction 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 transaction, the insider now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now owns 19 shares of the company's stock, valued at $13,775. The trade was a 96.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,158 shares of company stock worth $202,989,194. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $15.00 during trading on Thursday, reaching $772.86. The stock had a trading volume of 1,416,949 shares, compared to its average volume of 1,611,738. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The firm's 50 day moving average price is $696.71 and its two-hundred day moving average price is $637.71. The stock has a market cap of $215.59 billion, a PE ratio of 62.73, a P/E/G ratio of 3.37 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data 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. 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 company's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America raised their price target on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and issued a $815.00 price target (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $785.00 target price (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit has an average rating of "Moderate Buy" and an average price target 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.