Intuit Inc. (NASDAQ:INTU) Stock Position Decreased by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. lowered its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,152 shares of the software maker's stock after selling 1,532 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Intuit were worth $18,513,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INTU. Copia Wealth Management acquired a new stake in Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC boosted its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit during the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Intuit during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Barclays reissued an "overweight" rating and issued a $815.00 target price (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price objective on shares of Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a research report on Friday, May 23rd. KeyCorp restated an "overweight" rating and issued a $850.00 price objective (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Oppenheimer reiterated an "outperform" rating and set a $742.00 target price (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $785.33.

Intuit Price Performance

INTU traded up $0.55 on Wednesday, hitting $762.65. 433,180 shares of the company were exchanged, compared to its average volume of 1,615,402. The business's fifty day moving average is $652.38 and its 200 day moving average is $627.65. The firm has a market capitalization of $212.74 billion, a P/E ratio of 74.15, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. 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 firm posted $9.88 earnings per share. Intuit's revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.55%. Intuit's dividend payout ratio is currently 33.77%.

Insider Activity

In other news, EVP Mark P. Notarainni sold 469 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the transaction, the executive vice president now owns 19 shares of the company's stock, valued at approximately $13,775. This trade represents a 96.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Alex G. Balazs sold 1,459 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock worth $213,441,865 over the last three months. 2.68% of the stock is currently owned by corporate insiders.

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.