New Millennium Group LLC Sells 2,113 Shares of Intuit Inc. (NASDAQ:INTU)

New Millennium Group LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 79.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 562 shares of the software maker's stock after selling 2,113 shares during the quarter. New Millennium Group LLC's holdings in Intuit were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Copia Wealth Management purchased a new position in Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after buying an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Intuit during the 4th quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 25,648 shares of Intuit stock in a transaction dated 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 sale, the executive vice president owned 22,796 shares of the company's stock, valued at $17,148,291. This trade represents a 52.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total value of $12,176,972.00. Following the completion of the sale, the executive vice president directly owned 23,101 shares in the company, valued at $16,844,325.16. This represents a 41.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,896 shares of company stock worth $204,351,942 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Oppenheimer reaffirmed an "outperform" rating and set a $742.00 target price (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Barclays reissued an "overweight" rating and issued a $815.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus raised their price target on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. One equities research 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 assigned a strong buy rating to the stock. According to MarketBeat, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $793.05.

Intuit Stock Performance

Intuit stock traded up $9.64 during trading hours on Thursday, hitting $783.34. The stock had a trading volume of 821,458 shares, compared to its average volume of 1,825,680. The company has a 50-day moving average of $712.39 and a two-hundred day moving average of $640.96. 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 company has a market cap of $218.51 billion, a PE ratio of 63.58, a price-to-earnings-growth 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 posted 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. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the firm posted $9.88 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

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.