Southern Capital Advisors LLC Sells 2,831 Shares of Intuit Inc. (NASDAQ:INTU)

Southern Capital Advisors LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 81.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 628 shares of the software maker's stock after selling 2,831 shares during the quarter. Southern Capital Advisors LLC's holdings in Intuit were worth $386,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Ethos Financial Group LLC boosted its position in shares of Intuit by 3.7% during the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after purchasing an additional 18 shares during the period. Legacy Investment Solutions LLC boosted its position in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after purchasing an additional 18 shares during the period. Financial Management Professionals Inc. boosted its position in shares of Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares during the period. Finally, Chris Bulman Inc boosted its position in shares of Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 1,459 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares of the company's stock, valued at approximately $143,047.61. The trade was a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,158 shares of company stock valued at $202,989,194. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on INTU shares. Morgan Stanley reissued an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Barclays reissued an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. Finally, Jefferies Financial Group set a $850.00 target price on shares of Intuit and gave the stock a "buy" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $787.95.

Intuit Price Performance

Shares of INTU traded down $3.52 during mid-day trading on Tuesday, hitting $759.03. The company's stock had a trading volume of 1,900,345 shares, compared to its average volume of 1,609,700. The firm has a 50-day moving average price of $689.57 and a 200 day moving average price of $636.00. The stock has a market capitalization of $211.73 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 3.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. 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 announced 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. The company had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business's revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $9.88 EPS. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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 issued a dividend of $1.04 per share. 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 is currently 33.77%.

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.