1,396 Shares in Intuit Inc. (NASDAQ:INTU) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC bought a new stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,396 shares of the software maker's stock, valued at approximately $857,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Copia Wealth Management acquired a new position in shares of Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC increased its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Summit Securities Group LLC acquired a new position in Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter valued at $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Intuit during the fourth quarter valued at about $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Intuit stock traded down $10.07 during trading on Thursday, hitting $754.83. The stock had a trading volume of 2,223,307 shares, compared to its average volume of 1,614,881. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock's 50 day moving average is $675.86 and its two-hundred day moving average is $632.87. The stock has a market cap of $210.56 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 3.40 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the firm earned $9.88 EPS. The business's revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed 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 yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,706 shares of company stock worth $212,420,665. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on INTU. KeyCorp restated an "overweight" rating and issued a $850.00 target price (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price objective on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Barclays reaffirmed 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. One equities research analyst has rated the stock with a sell rating, two have given 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, Intuit has an average rating of "Moderate Buy" and an average target price of $787.95.

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.