RVW Wealth LLC Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Key Points

• RVW Wealth LLC reduced its holdings in Intuit Inc. by 17.2%, now owning 4,601 shares worth approximately $2.8 million.
• Several institutions, including Pinnacle Financial Partners and China Universal Asset Management, have recently increased their stakes in Intuit, indicating institutional interest in the company.
• Wall Street analysts have shown confidence in Intuit, with multiple upgrades and a consensus price target of $806.27 for the stock.

RVW Wealth LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 17.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,601 shares of the software maker's stock after selling 959 shares during the quarter. RVW Wealth LLC's holdings in Intuit were worth $2,825,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Pinnacle Financial Partners Inc lifted its holdings in shares of Intuit by 3.6% during the first quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker's stock worth $10,922,000 after purchasing an additional 623 shares during the period. Capitolis Liquid Global Markets LLC purchased a new position in Intuit during the fourth quarter valued at approximately $109,988,000. Financial Gravity Asset Management Inc. purchased a new position in Intuit during the first quarter valued at approximately $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Intuit during the fourth quarter valued at approximately $237,244,000. Finally, China Universal Asset Management Co. Ltd. raised its position in Intuit by 16.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker's stock valued at $4,240,000 after acquiring an additional 962 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU traded down $8.98 during trading hours on Friday, hitting $776.15. 1,490,057 shares of the stock were exchanged, compared to its average volume of 1,382,113. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $813.70. The company has a market cap of $216.50 billion, a price-to-earnings ratio of 63.00, a price-to-earnings-growth ratio of 3.48 and a beta of 1.28. The stock's 50-day moving average price is $767.11 and its two-hundred day moving average price is $661.74.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the previous year, the business earned $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Intuit from $820.00 to $870.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. KeyCorp reiterated an "overweight" rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer lifted their price target on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Bank of America lifted their price target on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price target (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and an average price target of $806.27.

Insider Activity

In related news, EVP Alex G. Balazs sold 882 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total transaction of $689,397.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the sale, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 in the last three months. Company insiders own 2.68% of the company's stock.

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.