OneDigital Investment Advisors LLC Has $1.84 Million Holdings in Intuit Inc. (NASDAQ:INTU)

OneDigital Investment Advisors LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 49.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,989 shares of the software maker's stock after selling 2,879 shares during the period. OneDigital Investment Advisors LLC's holdings in Intuit were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Spear Holdings RSC Ltd purchased a new position in Intuit during the 1st quarter valued at about $60,797,000. Avantax Planning Partners Inc. boosted its position in Intuit by 16.4% during the first quarter. Avantax Planning Partners Inc. now owns 1,178 shares of the software maker's stock worth $723,000 after purchasing an additional 166 shares in the last quarter. Calamos Wealth Management LLC raised its holdings in shares of Intuit by 8.1% in the first quarter. Calamos Wealth Management LLC now owns 1,538 shares of the software maker's stock worth $944,000 after acquiring an additional 115 shares during the last quarter. Calamos Advisors LLC increased its stake in Intuit by 11.0% in the first quarter. Calamos Advisors LLC now owns 83,977 shares of the software maker's stock valued at $51,561,000 after purchasing an additional 8,312 shares during the last quarter. Finally, Cohen Investment Advisors LLC boosted its position in shares of Intuit by 13.2% in the first quarter. Cohen Investment Advisors LLC now owns 6,642 shares of the software maker's stock worth $4,078,000 after buying an additional 773 shares during the period. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Trading Down 2.8%

Shares of Intuit stock traded down $21.69 during trading hours on Thursday, hitting $747.90. The company's stock had a trading volume of 1,781,609 shares, compared to its average volume of 1,623,363. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The business has a fifty day moving average of $728.22 and a 200 day moving average of $645.23. The company has a market capitalization of $208.63 billion, a PE ratio of 60.71, a P/E/G ratio of 3.48 and a beta of 1.27. The company has a quick ratio of 1.45, a current 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 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period last year, the business earned $9.88 EPS. The business's revenue was up 15.1% on a year-over-year basis. As a group, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced 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 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Analysts Set New Price Targets

INTU has been the topic of a number of research reports. Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Bank of America upped their price target on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Evercore ISI raised their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

Insiders Place Their Bets

In related news, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 23,101 shares in the company, valued at $16,844,325.16. This trade represents a 41.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 25,648 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the sale, the executive vice president directly owned 22,796 shares in the company, valued at approximately $17,148,291. This represents a 52.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,467 shares of company stock valued at $209,469,167 over the last 90 days. 2.68% of the stock is owned by corporate 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.