Sfm LLC Buys New Shares in Intuit Inc. (NASDAQ:INTU)

SFM LLC purchased a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 738 shares of the software maker's stock, valued at approximately $453,000.

A number of other institutional investors have also recently made changes to their positions in INTU. Prentice Wealth Management LLC raised its stake in shares of Intuit by 6.2% during the 1st quarter. Prentice Wealth Management LLC now owns 820 shares of the software maker's stock valued at $503,000 after purchasing an additional 48 shares during the period. Aries Wealth Management bought a new position in Intuit in the 1st quarter worth about $238,000. Ritholtz Wealth Management increased its stake in Intuit by 13.0% in the 1st quarter. Ritholtz Wealth Management now owns 4,501 shares of the software maker's stock worth $2,763,000 after acquiring an additional 517 shares during the last quarter. Morey & Quinn Wealth Partners LLC bought a new position in Intuit in the 1st quarter worth about $202,000. Finally, Dynamic Advisor Solutions LLC increased its stake in Intuit by 4.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 9,594 shares of the software maker's stock worth $5,891,000 after acquiring an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on INTU shares. Bank of America increased their price objective on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Susquehanna reiterated a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. Morgan Stanley reiterated an "overweight" rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Finally, Evercore ISI increased 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

Intuit Trading Down 1.6%

NASDAQ INTU traded down $12.23 on Friday, hitting $753.98. The company's stock had a trading volume of 1,148,047 shares, compared to its average volume of 1,611,840. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company's 50-day simple moving average is $664.85 and its 200 day simple moving average is $630.25. The firm has a market cap of $210.32 billion, a P/E ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. Intuit's dividend payout ratio (DPR) is currently 33.77%.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $765.99, for a total value of $48,116,427.84. Following the transaction, the insider now directly owns 6,000,679 shares in the company, valued at $4,596,460,107.21. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 16,061 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was 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 in the company, valued at approximately $143,047.61. This trade represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock worth $213,441,865 in the last ninety days. Insiders own 2.68% of the company's stock.

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.