Trek Financial LLC Has $1.10 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Trek Financial LLC boosted its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 33.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,790 shares of the software maker's stock after buying 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 & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Legacy Investment Solutions LLC boosted its stake in Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker's stock worth $68,000 after purchasing an additional 18 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Intuit by 18.4% in the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock valued at $71,000 after buying an additional 18 shares in the last quarter. Chris Bulman Inc grew its stake in shares of Intuit by 1.2% in the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock valued at $935,000 after buying an additional 18 shares in the last quarter. Plancorp LLC boosted its stake in shares of Intuit by 2.2% in the fourth quarter. Plancorp LLC now owns 889 shares of the software maker's stock valued at $559,000 after purchasing an additional 19 shares during the period. Finally, Kolinsky Wealth Management LLC raised its stake in shares of Intuit by 1.6% in the fourth quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker's stock valued at $749,000 after acquiring an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the transaction, the chief accounting officer directly owned 455 shares in the company, valued at approximately $356,760.95. This trade represents a 79.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard L. Dalzell sold 333 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the transaction, the director owned 15,474 shares of the company's stock, valued at approximately $11,890,685.82. This trade represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 in the last three months. Insiders own 2.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTU. HSBC upgraded shares of Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price for the company in a research note on Wednesday, April 23rd. Piper Sandler restated an "overweight" rating and set a $825.00 target price (up previously from $785.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Susquehanna reiterated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $800.55.

Intuit Price Performance

INTU remained flat at $747.90 on Friday. The company had a trading volume of 1,047,778 shares, compared to its average volume of 1,619,727. The firm has a market cap of $208.62 billion, a PE ratio of 60.71, a price-to-earnings-growth ratio of 3.42 and a beta of 1.27. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a 50-day moving average of $730.71 and a 200 day moving average of $645.99.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. Intuit's dividend payout ratio (DPR) 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.