Intuit Inc. (NASDAQ:INTU) Shares Bought by Weil Company Inc.

Weil Company Inc. grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 10.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,513 shares of the software maker's stock after buying an additional 615 shares during the period. Intuit accounts for about 1.2% of Weil Company Inc.'s holdings, making the stock its 23rd largest holding. Weil Company Inc.'s holdings in Intuit were worth $3,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Vanguard Group Inc. raised its holdings in Intuit by 1.3% during 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after acquiring an additional 132,384 shares during the period. Wellington Management Group LLP increased its holdings in shares of Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the period. Norges Bank acquired a new position in shares of Intuit in the 4th quarter valued at $2,290,419,000. Finally, Brown Advisory Inc. increased its holdings in shares of Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after acquiring an additional 252,265 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on INTU shares. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the company a "buy" rating in a research report on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group lifted their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

Intuit Price Performance

Shares of INTU stock remained flat at $747.90 during trading hours on Friday. 1,047,778 shares of the stock traded hands, compared to its average volume of 1,623,598. The business's 50-day moving average price is $733.03 and its two-hundred day moving average price is $646.71. The stock has a market cap of $208.63 billion, a price-to-earnings ratio of 60.71, a PEG ratio of 3.33 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 company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current 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 analysts' consensus estimates 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 net margin of 19.07% and a return on equity of 21.46%. The company's revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.88 EPS. Analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Activity

In other news, EVP Mark P. Notarainni sold 1,147 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president owned 19 shares of the company's stock, valued at approximately $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 2,591 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total transaction of $2,026,732.02. Following the sale, the chief financial officer directly owned 768 shares of the company's stock, valued at $600,744.96. The trade was a 77.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Intuit Company 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.