Sequoia Financial Advisors LLC Grows Holdings in Intuit Inc. (NASDAQ:INTU)

Sequoia Financial Advisors LLC raised its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,846 shares of the software maker's stock after buying an additional 710 shares during the period. Sequoia Financial Advisors LLC's holdings in Intuit were worth $9,729,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Value Partners Investments Inc. boosted its holdings in Intuit by 9.3% in the first quarter. Value Partners Investments Inc. now owns 3,677 shares of the software maker's stock valued at $2,259,000 after purchasing an additional 314 shares during the last quarter. Pure Financial Advisors LLC raised its position in shares of Intuit by 27.7% in the 1st quarter. Pure Financial Advisors LLC now owns 415 shares of the software maker's stock valued at $255,000 after purchasing an additional 90 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Intuit by 9.4% during the 1st quarter. Perigon Wealth Management LLC now owns 5,242 shares of the software maker's stock valued at $3,218,000 after buying an additional 449 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of Intuit during the first quarter worth approximately $99,000. Finally, Golden State Wealth Management LLC increased its stake in shares of Intuit by 171.0% in the first quarter. Golden State Wealth Management LLC now owns 908 shares of the software maker's stock worth $558,000 after buying an additional 573 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Up 2.0%

Shares of INTU opened at $772.86 on Friday. The stock has a market cap of $215.59 billion, a PE ratio of 62.73, a PEG ratio of 3.37 and a beta of 1.28. The stock has a 50 day simple moving average of $696.71 and a 200-day simple moving average of $637.71. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $774.80. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm posted $9.88 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. On average, sell-side analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.54%. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insiders Place Their Bets

In other news, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction dated 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 transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 271,158 shares of company stock worth $202,989,194. Corporate insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. Barclays reissued an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Citigroup reissued a "buy" rating and issued a $789.00 price objective (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $660.00 to $770.00 and gave the company an "overweight" rating in a report on Friday, May 23rd. Finally, CLSA initiated coverage on shares of Intuit in a research note on Thursday. They set an "outperform" rating and a $900.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $793.05.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.