TCV Trust & Wealth Management Inc. Sells 561 Shares of Intuit Inc. (NASDAQ:INTU)

TCV Trust & Wealth Management Inc. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,586 shares of the software maker's stock after selling 561 shares during the period. TCV Trust & Wealth Management Inc.'s holdings in Intuit were worth $5,886,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Copia Wealth Management bought a new stake in shares of Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC boosted its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC purchased a new position in Intuit in the fourth quarter worth about $28,000. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in Intuit in the fourth quarter worth about $35,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company set a $880.00 target price on Intuit and gave the stock an "overweight" rating in a research report on Friday, June 13th. Bank of America raised their target price on Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. CLSA assumed coverage on Intuit in a research report on Thursday. They issued an "outperform" rating and a $900.00 target price on the stock. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $850.00 price objective (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $793.05.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the transaction, the chief accounting officer now owns 455 shares in the company, valued at $356,760.95. The trade was a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $53,700,530.18. Following the completion of the sale, the insider now owns 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,896 shares of company stock valued at $204,351,942 in the last quarter. 2.68% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded up $3.71 during midday trading on Friday, reaching $776.57. 2,051,675 shares of the company were exchanged, compared to its average volume of 1,613,471. 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 business's fifty day moving average is $700.54 and its two-hundred day moving average is $638.38. Intuit Inc. has a one year low of $532.65 and a one year high of $787.22. The stock has a market cap of $216.62 billion, a PE ratio of 63.03, a price-to-earnings-growth ratio of 3.45 and a beta of 1.28.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the previous year, the company posted $9.88 EPS. The company's revenue was up 15.1% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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

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.