Intuit Inc. (NASDAQ:INTU) Shares Sold by JGP Wealth Management LLC

JGP Wealth Management LLC reduced its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 15,636 shares of the software maker's stock after selling 7,584 shares during the period. Intuit makes up 1.3% of JGP Wealth Management LLC's portfolio, making the stock its 26th largest holding. JGP Wealth Management LLC's holdings in Intuit were worth $9,600,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter worth approximately $25,000. Copia Wealth Management acquired a new position in Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC raised its position 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 acquiring an additional 18 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Trading Up 0.1%

NASDAQ:INTU traded up $1.08 on Thursday, reaching $767.89. The stock had a trading volume of 591,935 shares, compared to its average volume of 1,616,709. The company has a market cap of $214.20 billion, a price-to-earnings ratio of 74.55, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm's fifty day moving average is $640.03 and its two-hundred day moving average is $624.89. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.47.

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, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company's revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $9.88 EPS. Equities analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling

In related news, EVP Laura A. Fennell sold 25,648 shares of the stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the completion of the sale, the executive vice president now owns 22,796 shares of the company's stock, valued at approximately $17,148,291. This represents a 52.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 6,063,495 shares of the company's stock, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,804 shares of company stock valued at $138,081,963. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. Bank of America increased their target price on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Evercore ISI boosted their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a research report on Friday, May 23rd. Stifel Nicolaus upped their price target on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $785.33.

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.