Intuit Inc. (NASDAQ:INTU) Shares Bought by Segment Wealth Management LLC

Segment Wealth Management LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,687 shares of the software maker's stock after buying an additional 743 shares during the period. Intuit comprises 1.3% of Segment Wealth Management LLC's investment portfolio, making the stock its 18th largest holding. Segment Wealth Management LLC's holdings in Intuit were worth $19,455,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Intuit in the fourth quarter valued at approximately $2,290,419,000. GAMMA Investing LLC raised 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 acquiring an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock worth $668,595,000 after purchasing an additional 1,062,847 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Intuit by 33.5% in the fourth 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 valued at $1,930,765,000 after purchasing an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction on 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 sale, the chief financial officer now owns 197 shares of the company's stock, valued at $143,047.61. The trade was a 98.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 279,321 shares of company stock valued at $207,988,705 over the last three months. Company insiders own 2.68% of the company's stock.

Intuit Stock Up 0.8%

Shares of INTU stock traded up $6.31 during mid-day trading on Friday, reaching $761.14. 2,631,919 shares of the company were exchanged, compared to its average volume of 1,619,241. 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 business's 50 day simple moving average is $679.41 and its 200 day simple moving average is $633.70. The company has a market capitalization of $212.32 billion, a P/E ratio of 61.78, a P/E/G ratio of 3.36 and a beta of 1.28. 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 released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the firm earned $9.88 EPS. The company's revenue was up 15.1% on a year-over-year basis. Research analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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 issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is 33.77%.

Wall Street Analyst Weigh In

A number of research firms recently commented on INTU. BMO Capital Markets reaffirmed an "outperform" rating and issued a $820.00 target price (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America raised their price objective on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a report on Wednesday, April 23rd. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Finally, Susquehanna restated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Company 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.