New Century Financial Group LLC Has $215,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

New Century Financial Group LLC lowered its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 64.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 350 shares of the software maker's stock after selling 636 shares during the period. New Century Financial Group LLC's holdings in Intuit were worth $215,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of INTU. Copia Wealth Management acquired a new stake in Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth approximately $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Intuit in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 469 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $13,775. The trade was a 96.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 62,816 shares of Intuit stock in a transaction on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the transaction, the insider now owns 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 1.6%

NASDAQ:INTU traded down $12.23 during trading hours on Friday, reaching $753.98. The company's stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,609,674. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $210.32 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The business's 50-day moving average is $664.85 and its 200-day moving average is $630.29. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm posted $9.88 EPS. The business's quarterly revenue was up 15.1% on a year-over-year basis. Equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTU. Piper Sandler reissued an "overweight" rating and set a $825.00 price target (up previously from $785.00) on shares of Intuit in a research report on Friday, May 23rd. Citigroup reiterated a "buy" rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Mizuho raised their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. Finally, Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the company a "buy" rating in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $787.95.

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.