Trek Financial LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Trek Financial LLC lifted its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 33.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,790 shares of the software maker's stock after purchasing 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 institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker's stock worth $2,233,000 after acquiring an additional 1,350 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Intuit by 145.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker's stock valued at $511,000 after purchasing an additional 482 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Intuit by 14.2% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,992 shares of the software maker's stock valued at $1,252,000 after purchasing an additional 248 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Intuit by 78.8% in the 4th quarter. Proficio Capital Partners LLC now owns 1,693 shares of the software maker's stock valued at $1,064,000 after purchasing an additional 746 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in Intuit by 41.2% in the 4th quarter. Edgestream Partners L.P. now owns 2,298 shares of the software maker's stock valued at $1,444,000 after purchasing an additional 671 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

NASDAQ:INTU traded down $11.89 during trading hours on Wednesday, reaching $769.59. 1,486,175 shares of the company's stock were exchanged, compared to its average volume of 1,619,695. The firm has a market capitalization of $214.68 billion, a price-to-earnings ratio of 62.47, a P/E/G ratio of 3.49 and a beta of 1.27. The company has a 50-day moving average of $725.37 and a 200 day moving average of $644.37. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping 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 analysts' expectations of $7.56 billion. During the same quarter last year, the business earned $9.88 EPS. The business's revenue was up 15.1% on a year-over-year basis. Research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current 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. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit's dividend payout ratio is presently 33.77%.

Insiders Place Their Bets

In other news, EVP Marianna Tessel sold 34,329 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares in the company, valued at $31,017,164.28. This trade represents a 45.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 25,648 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $752.25, for a total transaction of $19,293,708.00. Following the transaction, the executive vice president owned 22,796 shares of the company's stock, valued at $17,148,291. This trade represents a 52.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,134 shares of company stock worth $209,207,905. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on INTU shares. The Goldman Sachs Group upped their price objective on shares of Intuit from $750.00 to $860.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Royal Bank Of Canada restated an "outperform" rating and issued a $850.00 price objective (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Bank of America upped their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. BMO Capital Markets restated an "outperform" rating and issued a $820.00 price objective (up from $714.00) on shares of Intuit in a report on Friday, May 23rd. Finally, UBS Group set a $750.00 price objective on shares of Intuit and gave the stock a "neutral" rating in a report on Friday, May 23rd. One investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $798.27.

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.