Intuit Inc. (NASDAQ:INTU) Shares Acquired by Strategic Planning Group LLC

Strategic Planning Group LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,360 shares of the software maker's stock after purchasing an additional 875 shares during the period. Strategic Planning Group LLC's holdings in Intuit were worth $4,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock worth $107,854,000 after purchasing an additional 3,648 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new stake in Intuit in the fourth quarter worth about $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Intuit in the fourth quarter worth about $237,244,000. V Square Quantitative Management LLC raised its stake in shares of Intuit by 7.0% in the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker's stock worth $4,821,000 after buying an additional 501 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in shares of Intuit during the 4th quarter valued at about $10,757,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, EVP Mark P. Notarainni sold 469 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $13,775. This trade represents a 96.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,592 shares of company stock worth $165,325,437. Insiders own 2.68% of the company's stock.

Intuit Stock Down 0.0%

Shares of NASDAQ INTU traded down $0.17 during midday trading on Thursday, reaching $766.64. 1,240,800 shares of the company's stock traded hands, compared to its average volume of 1,619,156. Intuit Inc. has a one year low of $532.65 and a one year high of $773.47. The stock's 50 day simple moving average is $640.03 and its 200-day simple moving average is $624.89. The company has a market cap of $213.85 billion, a price-to-earnings ratio of 74.43, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the company earned $9.88 earnings per share. On average, analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit's payout ratio is presently 33.77%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 23rd. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Wells Fargo & Company restated an "overweight" rating and set a $825.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Evercore ISI increased their price target on Intuit from $685.00 to $785.00 and gave the company an "outperform" rating in a report on Friday, May 23rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $785.33.

Intuit 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.