Stratos Wealth Advisors LLC Sells 1,062 Shares of Intuit Inc. (NASDAQ:INTU)

Stratos Wealth Advisors LLC decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 47.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,179 shares of the software maker's stock after selling 1,062 shares during the period. Stratos Wealth Advisors LLC's holdings in Intuit were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in INTU. 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 valued at $68,000 after purchasing an additional 18 shares in the last quarter. 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 valued at $71,000 after purchasing an additional 18 shares in the last quarter. 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 valued at $935,000 after purchasing an additional 18 shares in the last quarter. Plancorp LLC boosted its position in shares of Intuit by 2.2% during the 4th quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after purchasing an additional 19 shares in the last quarter. Finally, Kolinsky Wealth Management LLC boosted its holdings in Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock worth $749,000 after acquiring an additional 19 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INTU. Morgan Stanley increased their price target on Intuit from $785.00 to $900.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. The Goldman Sachs Group increased their price target on Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Piper Sandler reiterated an "overweight" rating and issued a $825.00 price target (up previously from $785.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI increased their price target on Intuit from $685.00 to $785.00 and gave the stock an "outperform" rating in a report on Friday, May 23rd. Finally, KeyCorp reiterated an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $800.55.

Insider Transactions at Intuit

In related news, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the sale, the executive vice president owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider directly owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

NASDAQ:INTU remained flat at $747.90 during trading hours on Friday. The company's stock had a trading volume of 1,047,778 shares, compared to its average volume of 1,623,598. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average of $733.03 and a 200 day moving average of $646.71. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $790.60. The firm has a market capitalization of $208.63 billion, a PE ratio of 60.71, a P/E/G ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the business posted $9.88 earnings per share. The business's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business 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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's 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.