Private Advisor Group LLC Purchases 1,553 Shares of Intuit Inc. (NASDAQ:INTU)

Private Advisor Group LLC boosted its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,551 shares of the software maker's stock after purchasing an additional 1,553 shares during the period. Private Advisor Group LLC's holdings in Intuit were worth $6,479,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Copia Wealth Management purchased a new position in shares of Intuit in the fourth quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $28,000. Olde Wealth Management LLC purchased a new position in Intuit in the 1st quarter worth approximately $37,000. Finally, Atlantic Edge Private Wealth Management LLC increased its holdings in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, Director Richard L. Dalzell sold 333 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director owned 15,474 shares in the company, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lauren D. Hotz sold 1,738 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the transaction, the chief accounting officer owned 455 shares of the company's stock, valued at approximately $356,760.95. This trade represents a 79.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Up 0.5%

Shares of NASDAQ INTU traded up $4.23 during mid-day trading on Thursday, hitting $780.23. The company had a trading volume of 474,457 shares, compared to its average volume of 1,773,421. The company has a market capitalization of $217.64 billion, a PE ratio of 63.33, a price-to-earnings-growth ratio of 3.40 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 Inc. has a 1-year low of $532.65 and a 1-year high of $790.60. The business's 50-day simple moving average is $750.68 and its 200 day simple moving average is $653.55.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the company posted $9.88 earnings per share. The business's revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a dividend of $1.04 per share. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. Intuit's dividend payout ratio is presently 33.77%.

Analyst Ratings Changes

Several equities analysts have commented on INTU shares. Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. CLSA began coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Bank of America increased their price target on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Morgan Stanley raised their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday, July 7th. One 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. According to MarketBeat, Intuit presently has an average rating of "Moderate Buy" and an average target price of $800.55.

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.