Trust Point Inc. Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

Trust Point Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 29.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,615 shares of the software maker's stock after selling 685 shares during the quarter. Trust Point Inc.'s holdings in Intuit were worth $992,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Ethos Financial Group LLC grew its holdings in shares of Intuit by 3.7% during the fourth quarter. Ethos Financial Group LLC now owns 508 shares of the software maker's stock worth $319,000 after purchasing an additional 18 shares during the last quarter. Legacy Investment Solutions LLC grew its holdings in shares of Intuit by 18.0% during the fourth 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 holdings in shares of Intuit by 18.4% during the first quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker's stock worth $71,000 after purchasing an additional 18 shares during the last quarter. Finally, Chris Bulman Inc grew its holdings in shares of Intuit by 1.2% during the first quarter. Chris Bulman Inc now owns 1,523 shares of the software maker's stock worth $935,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer now directly owns 197 shares of the company's stock, valued at $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock worth $213,441,865 in the last ninety days. Insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 price objective (up previously from $714.00) on shares of Intuit in a report on Friday, May 23rd. Morgan Stanley reaffirmed an "overweight" rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. 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 raised their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Finally, Jefferies Financial Group set a $850.00 price target on Intuit and gave the stock a "buy" rating 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $787.95.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $753.98 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $210.32 billion, a P/E ratio of 73.20, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a 50-day moving average price of $664.85 and a 200 day moving average price of $630.21.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. The company's revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts predict 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. Investors 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 annualized dividend and a dividend yield of 0.55%. Intuit's dividend 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.

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