Physicians Financial Services Inc. Purchases Shares of 331 Intuit Inc. (NASDAQ:INTU)

Key Points

• Physicians Financial Services Inc. has acquired 331 shares of Intuit Inc., valued at approximately $203,000, during the first quarter of the year, indicating a growing interest in the company among institutional investors.
• Intuit reported quarterly earnings of $11.65 per share, exceeding analysts' expectations of $10.89, alongside a 15.1% year-over-year revenue growth amounting to $7.75 billion.
• Following the announcement of various analysts maintaining positive ratings, Intuit has a consensus target price of $800.55 with numerous analysts predicting further growth in its stock performance.

Physicians Financial Services Inc. bought a new position in Intuit Inc. (NASDAQ:INTU - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 331 shares of the software maker's stock, valued at approximately $203,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Intuit by 61.3% in the 4th quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock valued at $2,233,000 after acquiring an additional 1,350 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after acquiring an additional 482 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after acquiring an additional 248 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Intuit by 5.6% in the 4th quarter. Level Four Advisory Services LLC now owns 1,668 shares of the software maker's stock valued at $1,049,000 after acquiring an additional 89 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Intuit by 2.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 5,119 shares of the software maker's stock valued at $3,217,000 after acquiring an additional 120 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Morgan Stanley raised their price target on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday, July 7th. JPMorgan Chase & Co. raised their price target on Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective for the company in a report on Wednesday, April 23rd. Stifel Nicolaus upped their price objective on Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Finally, Evercore ISI upped their price objective on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $806.27.

Intuit Trading Down 2.4%

Shares of NASDAQ:INTU traded down $19.59 during trading hours on Thursday, hitting $787.80. 913,720 shares of the company's stock traded hands, compared to its average volume of 1,770,236. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70. The business has a fifty day moving average price of $763.60 and a 200-day moving average price of $659.50. The firm has a market capitalization of $219.76 billion, a P/E ratio of 63.95, a price-to-earnings-growth ratio of 3.58 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company's revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.88 earnings per share. Equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.5%. Intuit's dividend payout ratio is presently 33.77%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 25,648 shares of the company's stock in a transaction on 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 transaction, the executive vice president directly owned 22,796 shares of the company's stock, valued at approximately $17,148,291. This represents a 52.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of the business's stock in a transaction 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 sale, the executive vice president directly owned 23,101 shares in the company, valued at $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 279,800 shares of company stock valued at $209,725,054. Corporate 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.