Trek Financial LLC Purchases 448 Shares of Intuit Inc. (NASDAQ:INTU)

Trek Financial LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 33.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,790 shares of the software maker's stock after acquiring an additional 448 shares during the period. Trek Financial LLC's holdings in Intuit were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in INTU. Personal CFO Solutions LLC boosted its stake in shares of Intuit by 5.8% in the 1st quarter. Personal CFO Solutions LLC now owns 3,118 shares of the software maker's stock valued at $1,915,000 after purchasing an additional 170 shares in the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of Intuit by 3.1% in the 1st quarter. Valeo Financial Advisors LLC now owns 2,438 shares of the software maker's stock valued at $1,497,000 after purchasing an additional 73 shares in the last quarter. Stratos Investment Management LLC grew its holdings in Intuit by 5.9% in the 1st quarter. Stratos Investment Management LLC now owns 398 shares of the software maker's stock worth $245,000 after acquiring an additional 22 shares during the last quarter. Liberty One Investment Management LLC grew its holdings in Intuit by 8.2% in the 1st quarter. Liberty One Investment Management LLC now owns 7,749 shares of the software maker's stock worth $4,758,000 after acquiring an additional 584 shares during the last quarter. Finally, NTV Asset Management LLC grew its holdings in Intuit by 49.6% in the 1st quarter. NTV Asset Management LLC now owns 531 shares of the software maker's stock worth $326,000 after acquiring an additional 176 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $781.48 on Wednesday. The firm has a 50 day moving average of $725.37 and a 200 day moving average of $644.37. 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 firm has a market capitalization of $217.99 billion, a price-to-earnings ratio of 63.43, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $790.60.

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

Intuit Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Insider Transactions at Intuit

In related news, EVP Laura A. Fennell sold 25,648 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $752.25, for a total value of $19,293,708.00. Following the sale, the executive vice president owned 22,796 shares in the company, valued at approximately $17,148,291. The trade was a 52.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction on 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 owned 6,063,495 shares in the company, 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. In the last three months, insiders have sold 278,252 shares of company stock valued at $208,518,508. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on INTU. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. BMO Capital Markets reissued an "outperform" rating and set a $820.00 price target (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. CLSA started coverage on shares of Intuit in a research report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price target for the company. HSBC raised shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their price target on shares of Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday. One 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $798.27.

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.

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