Intuit Inc. (NASDAQ:INTU) Shares Sold by RFG Advisory LLC

RFG Advisory LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 29.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,002 shares of the software maker's stock after selling 822 shares during the quarter. RFG Advisory LLC's holdings in Intuit were worth $1,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of INTU. Norges Bank bought a new position in shares of Intuit during the 4th quarter worth $2,290,419,000. GAMMA Investing LLC grew its position in shares of Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Intuit by 112,233.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $4.94 during trading on Friday, hitting $771.58. The stock had a trading volume of 1,475,201 shares, compared to its average volume of 1,619,358. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $774.80. The stock has a market capitalization of $215.23 billion, a price-to-earnings ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $643.09 and a two-hundred day simple moving average of $625.50.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $9.88 earnings per share. On average, equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business 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. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio is currently 33.77%.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value 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 approximately $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,592 shares of company stock worth $165,325,437. 2.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on INTU shares. Evercore ISI raised their price objective on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a research report on Friday, May 23rd. Oppenheimer reaffirmed an "outperform" rating and set a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 price objective (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, The Goldman Sachs Group raised their price objective on Intuit from $750.00 to $860.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $785.33.

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.