Trivant Custom Portfolio Group LLC Trims Position in Intuit Inc. (NASDAQ:INTU)

Trivant Custom Portfolio Group LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 690 shares of the software maker's stock after selling 415 shares during the quarter. Trivant Custom Portfolio Group LLC's holdings in Intuit were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Intuit in the fourth quarter worth about $2,290,419,000. GAMMA Investing LLC lifted its holdings in Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after buying an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC boosted its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker's stock valued at $668,595,000 after buying an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 33.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock valued at $1,930,765,000 after buying an additional 771,232 shares during the period. Finally, Wellington Management Group LLP grew its stake in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Intuit from $660.00 to $770.00 and gave the stock an "overweight" rating in a report on Friday, May 23rd. Mizuho increased their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and raised their price target for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Barclays reiterated an "overweight" rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $787.95.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now owns 40,190 shares in the company, valued at approximately $24,119,224.70. This trade represents a 15.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 62,816 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the transaction, the insider now directly owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,706 shares of company stock valued at $212,420,665 over the last quarter. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

Intuit stock traded down $10.07 during mid-day trading on Thursday, hitting $754.83. The company had a trading volume of 2,223,307 shares, compared to its average volume of 1,614,881. The company has a market capitalization of $210.56 billion, a price-to-earnings ratio of 61.27, a P/E/G ratio of 3.40 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The company's fifty day moving average is $675.86 and its 200-day moving average is $632.87. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29.

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 for the quarter, beating analysts' consensus estimates 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 in the previous year, the company earned $9.88 earnings per share. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. Equities research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. 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 0.55%. Intuit's payout ratio is currently 33.77%.

Intuit 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.