Venturi Wealth Management LLC Raises Stake in Intuit Inc. (NASDAQ:INTU)

Venturi Wealth Management LLC increased its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 13.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,104 shares of the software maker's stock after purchasing an additional 472 shares during the quarter. Venturi Wealth Management LLC's holdings in Intuit were worth $2,520,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Copia Wealth Management acquired a new position in Intuit in the 4th quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in Intuit in the 4th quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the 4th quarter valued at about $28,000. Olde Wealth Management LLC acquired a new position in shares of Intuit during the first quarter worth about $37,000. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in shares of Intuit by 523.1% during the first quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after buying an additional 68 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU stock traded up $4.85 during mid-day trading on Friday, hitting $786.06. The stock had a trading volume of 803,698 shares, compared to its average volume of 1,772,163. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60. The firm has a market cap of $219.27 billion, a PE ratio of 63.80, a PEG ratio of 3.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The company's 50-day simple moving average is $753.08 and its 200-day simple moving average is $654.63.

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. Sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.53%. Intuit's dividend payout ratio is presently 33.77%.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 25,648 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 22,796 shares in the company, valued at $17,148,291. This trade represents a 52.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $26,118,876.36. Following the completion of the transaction, the executive vice president owned 40,767 shares of the company's stock, valued at $31,017,164.28. This represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,800 shares of company stock worth $209,725,054. Insiders own 2.68% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup reiterated a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus boosted their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a "buy" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $815.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the stock an "overweight" rating in a report on Friday, June 13th. Finally, BMO Capital Markets boosted their price target on shares of Intuit from $820.00 to $870.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $800.55.

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.