Kintegral Advisory LLC Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Kintegral Advisory LLC decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 32.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,738 shares of the software maker's stock after selling 3,798 shares during the period. Kintegral Advisory LLC's holdings in Intuit were worth $4,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Copia Wealth Management bought a new stake in Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC lifted its stake 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 during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the 4th quarter worth about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in Intuit in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INTU. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Evercore ISI boosted their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research note on Friday, May 23rd. JPMorgan Chase & Co. increased their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. Susquehanna reissued a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Finally, 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 research note on Monday, May 19th. 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $793.05.

Intuit Stock Up 1.1%

INTU stock traded up $8.56 during mid-day trading on Friday, reaching $782.26. 822,973 shares of the company traded hands, compared to its average volume of 1,619,453. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The firm's 50 day moving average price is $715.74 and its 200 day moving average price is $641.72. The stock has a market cap of $218.21 billion, a price-to-earnings ratio of 63.49, a P/E/G ratio of 3.47 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60.

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

Intuit Dividend Announcement

The business also recently disclosed 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 0.53%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at approximately $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer owned 197 shares of the company's stock, valued at approximately $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 275,661 shares of company stock worth $206,491,776 over the last quarter. Corporate insiders own 2.68% of the company's stock.

About Intuit

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.