Invesco LLC Sells 905 Shares of Intuit Inc. (NASDAQ:INTU)

Invesco LLC cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 51.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 859 shares of the software maker's stock after selling 905 shares during the period. Invesco LLC's holdings in Intuit were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of INTU. Copia Wealth Management bought a new stake in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Intuit during the 4th quarter worth $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Intuit in the fourth quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 62,816 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company's stock, valued at approximately $13,775. This represents a 96.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 271,158 shares of company stock valued at $202,989,194. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Down 0.5%

NASDAQ INTU traded down $3.88 during trading hours on Tuesday, hitting $758.67. The company's stock had a trading volume of 1,900,322 shares, compared to its average volume of 1,609,684. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The company's 50-day simple moving average is $686.27 and its two-hundred day simple moving average is $635.14. The company has a market capitalization of $211.63 billion, a PE ratio of 61.58, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm's revenue was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $9.88 earnings per share. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 of this dividend is Thursday, July 10th. Intuit's payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INTU. KeyCorp restated an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus raised their price objective on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and increased their target price for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $787.95.

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.