Liberty One Investment Management LLC Raises Stock Position in Intuit Inc. (NASDAQ:INTU)

Liberty One Investment Management LLC grew its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,749 shares of the software maker's stock after purchasing an additional 584 shares during the quarter. Liberty One Investment Management LLC's holdings in Intuit were worth $4,758,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management purchased a new stake in shares of Intuit during the 4th quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $28,000. VSM Wealth Advisory LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC acquired a new stake in Intuit in the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU stock traded down $2.13 during trading hours on Tuesday, hitting $781.48. The company's stock had a trading volume of 1,291,852 shares, compared to its average volume of 1,617,848. The business has a fifty day moving average of $722.21 and a 200-day moving average of $643.41. The stock has a market cap of $217.99 billion, a price-to-earnings ratio of 63.43, a P/E/G ratio of 3.47 and a beta of 1.27. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. 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 (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating 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 19.07% and a return on equity of 21.46%. The company's quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business earned $9.88 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's payout ratio is 33.77%.

Analyst Ratings Changes

Several equities analysts have commented on INTU shares. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a "neutral" rating in a research note on Friday, May 23rd. The Goldman Sachs Group boosted their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research note on Wednesday, April 23rd. Bank of America boosted their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $798.27.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president owned 23,101 shares of the company's stock, valued at $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. This represents a 45.71% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 278,252 shares of company stock valued at $208,518,508. 2.68% of the stock is owned by corporate insiders.

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.