Mayflower Financial Advisors LLC Has $527,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Mayflower Financial Advisors LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 80.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 859 shares of the software maker's stock after purchasing an additional 383 shares during the period. Mayflower Financial Advisors LLC's holdings in Intuit were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Legacy Capital Wealth Partners LLC grew its position in shares of Intuit by 9.1% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,252 shares of the software maker's stock worth $769,000 after purchasing an additional 104 shares in the last quarter. Allen Capital Group LLC acquired a new stake in shares of Intuit during the 1st quarter worth approximately $3,589,000. Cable Hill Partners LLC boosted its position in shares of Intuit by 23.9% during the 1st quarter. Cable Hill Partners LLC now owns 570 shares of the software maker's stock worth $358,000 after acquiring an additional 110 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Intuit by 6.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 20,339 shares of the software maker's stock worth $12,488,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Parcion Private Wealth LLC boosted its position in shares of Intuit by 10.5% during the 1st quarter. Parcion Private Wealth LLC now owns 685 shares of the software maker's stock worth $421,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Down 0.4%

Shares of NASDAQ:INTU traded down $2.74 during mid-day trading on Friday, reaching $752.63. 1,504,966 shares of the company's stock were exchanged, compared to its average volume of 1,623,500. The firm has a market capitalization of $209.95 billion, a price-to-earnings ratio of 61.09, a PEG ratio of 3.33 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 debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The business's fifty day moving average price is $742.02 and its 200-day moving average price is $649.76.

Intuit (NASDAQ:INTU - Get Free Report) last posted 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the company posted $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. The Goldman Sachs Group increased their price target on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Morgan Stanley increased their price target on shares of Intuit from $785.00 to $900.00 and gave the stock 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 given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and an average price target of $800.55.

Insider Buying and Selling

In related news, EVP Marianna Tessel sold 34,329 shares of the firm's 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 completion of the sale, the executive vice president owned 40,767 shares of the company's stock, valued at $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $752.25, for a total value of $19,293,708.00. Following the completion of the sale, the executive vice president owned 22,796 shares of the company's stock, valued at approximately $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 over the last three months. Insiders own 2.68% of the company's stock.

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.