TD Private Client Wealth LLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

TD Private Client Wealth LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 25.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,116 shares of the software maker's stock after selling 2,060 shares during the quarter. TD Private Client Wealth LLC's holdings in Intuit were worth $3,755,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Traveka Wealth LLC grew its stake in shares of Intuit by 13.4% during the first quarter. Traveka Wealth LLC now owns 693 shares of the software maker's stock valued at $425,000 after purchasing an additional 82 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Intuit in the first quarter valued at approximately $65,000. Atlantic Edge Private Wealth Management LLC lifted its holdings in shares of Intuit by 523.1% in the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock valued at $50,000 after purchasing an additional 68 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Intuit by 4.3% during the first quarter. Concurrent Investment Advisors LLC now owns 5,237 shares of the software maker's stock worth $3,216,000 after buying an additional 214 shares during the period. Finally, World Investment Advisors raised its position in Intuit by 19.3% during the first quarter. World Investment Advisors now owns 1,186 shares of the software maker's stock worth $728,000 after acquiring an additional 192 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Performance

Shares of INTU stock traded down $11.89 during trading on Wednesday, hitting $769.59. The company's stock had a trading volume of 1,486,175 shares, compared to its average volume of 1,622,729. The company has a market cap of $214.68 billion, a PE ratio of 62.47, a P/E/G ratio of 3.48 and a beta of 1.27. 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 has a fifty day moving average of $725.37 and a 200-day moving average of $644.37. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the firm earned $9.88 EPS. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit's dividend payout ratio is currently 33.77%.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. BMO Capital Markets reiterated an "outperform" rating and issued a $820.00 price target (up previously from $714.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank raised Intuit from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. UBS Group set a $750.00 price target on Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $825.00 price objective (up from $785.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $798.27.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 882 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total value of $689,397.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the sale, the chief financial officer owned 768 shares in the company, valued at $600,744.96. This represents a 77.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,467 shares of company stock worth $209,469,167 over the last ninety days. Insiders own 2.68% of the company's stock.

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.