PUREfi Wealth LLC Invests $202,000 in Intuit Inc. (NASDAQ:INTU)

PUREfi Wealth LLC purchased a new stake in Intuit Inc. (NASDAQ:INTU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 329 shares of the software maker's stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after purchasing an additional 1,350 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Intuit in the fourth quarter worth $104,278,000. Revolve Wealth Partners LLC raised its position in Intuit by 145.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock worth $511,000 after acquiring an additional 482 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Intuit in the fourth quarter valued at $68,429,000. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Intuit by 14.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock worth $1,252,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity

In other news, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the sale, the chief financial officer now directly owns 197 shares in the company, valued at $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the sale, the insider now owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Intuit stock opened at $764.90 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The company has a market cap of $213.37 billion, a price-to-earnings ratio of 62.09, a PEG ratio of 3.42 and a beta of 1.28. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The firm has a 50 day moving average price of $672.69 and a 200 day moving average price of $632.02.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 21.46% and a net margin of 19.07%. The firm's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $9.88 earnings per share. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. Intuit's dividend payout ratio (DPR) is 33.77%.

Analysts Set New Price Targets

Several research analysts have weighed in on INTU shares. Oppenheimer restated an "outperform" rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Citigroup reissued a "buy" rating and issued a $789.00 target price (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research note on Wednesday, April 23rd. BMO Capital Markets reissued an "outperform" rating and set a $820.00 price objective (up from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Hsbc Global Res upgraded Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.

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