L & S Advisors Inc Has $3.95 Million Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Key Points

• L & S Advisors Inc reduced its stake in Intuit Inc. by 29.6% during the first quarter, holding shares now valued at approximately $3.95 million after selling 2,700 shares.
• Intuit recently reported earnings of $11.65 EPS, surpassing estimates and showing a 15.1% increase in revenue compared to the same period last year, reaching $7.75 billion.
• The company announced a quarterly dividend of $1.04 per share, yielding 0.5%, and has a payout ratio of 33.77% with insider sales contributing to a significant decrease in executive ownership.

L & S Advisors Inc cut its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 29.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,437 shares of the software maker's stock after selling 2,700 shares during the quarter. L & S Advisors Inc's holdings in Intuit were worth $3,952,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC raised its position in Intuit by 18.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after purchasing an additional 18 shares in the last quarter. Financial Management Professionals Inc. raised its position in Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares in the last quarter. Chris Bulman Inc raised its position in Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares in the last quarter. Kolinsky Wealth Management LLC raised its position in Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after purchasing an additional 19 shares in the last quarter. Finally, Norden Group LLC raised its position in Intuit by 1.2% in the first quarter. Norden Group LLC now owns 1,663 shares of the software maker's stock worth $1,021,000 after purchasing an additional 19 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. CLSA began coverage on shares of Intuit in a research report on Thursday, June 26th. They issued an "outperform" rating and a $900.00 price target for the company. Bank of America boosted their price target on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Evercore ISI boosted their price target on shares of Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their price target for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. 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 company. According to data from MarketBeat.com, Intuit presently has an average rating of "Moderate Buy" and a consensus price target of $806.27.

Intuit Stock Performance

Intuit stock opened at $776.15 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The company has a market cap of $216.51 billion, a PE ratio of 63.00, a PEG ratio of 3.44 and a beta of 1.28. The company's 50-day moving average is $767.11 and its two-hundred day moving average is $662.02.

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 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%. The company'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 EPS. Equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, July 10th. Intuit's payout ratio is presently 33.77%.

Insider Activity at Intuit

In other news, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the transaction, the executive vice president directly owned 23,101 shares in the company, valued at approximately $16,844,325.16. The trade was a 41.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer owned 197 shares of the company's stock, valued at $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. In the last three months, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by company insiders.

Intuit 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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