Kestra Private Wealth Services LLC Sells 950 Shares of Intuit Inc. (NASDAQ:INTU)

Kestra Private Wealth Services LLC decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,459 shares of the software maker's stock after selling 950 shares during the period. Kestra Private Wealth Services LLC's holdings in Intuit were worth $3,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in INTU. Csenge Advisory Group lifted its holdings in shares of Intuit by 4.1% in the 1st quarter. Csenge Advisory Group now owns 987 shares of the software maker's stock worth $578,000 after acquiring an additional 39 shares during the last quarter. Formidable Asset Management LLC purchased a new position in Intuit in the 1st quarter worth $725,000. Private Advisor Group LLC lifted its stake in Intuit by 17.3% in the first quarter. Private Advisor Group LLC now owns 10,551 shares of the software maker's stock worth $6,479,000 after purchasing an additional 1,553 shares during the last quarter. Diversify Advisory Services LLC grew its stake in shares of Intuit by 20.7% during the first quarter. Diversify Advisory Services LLC now owns 3,544 shares of the software maker's stock valued at $2,209,000 after buying an additional 607 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in shares of Intuit by 55.5% in the first quarter. Pictet Asset Management Holding SA now owns 1,053,197 shares of the software maker's stock worth $646,613,000 after buying an additional 375,742 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Susquehanna restated a "positive" rating on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. The Goldman Sachs Group upped their price target on shares of Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a report on Monday, May 19th. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Finally, HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $800.55.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm's 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 completion of the transaction, the insider owned 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marianna Tessel sold 34,329 shares of Intuit stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares of the company's stock, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $752.63 on Monday. The company has a market capitalization of $209.94 billion, a PE ratio of 61.09, a PEG ratio of 3.34 and a beta of 1.27. The business has a fifty day moving average price of $743.99 and a 200-day moving average price of $650.97. 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 current ratio of 1.45 and a quick ratio of 1.45.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit's dividend payout ratio is 33.77%.

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.

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