Wealth Enhancement Advisory Services LLC Increases Position in Intuit Inc. (NASDAQ:INTU)

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,535 shares of the software maker's stock after acquiring an additional 1,859 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Intuit were worth $19,978,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Intuit by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Norges Bank bought a new stake in shares of Intuit during the fourth quarter valued at approximately $2,290,419,000. Finally, Northern Trust Corp raised its holdings in shares of Intuit by 17.3% during the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after buying an additional 498,030 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Stock Performance

Shares of Intuit stock opened at $761.14 on Friday. The company has a market capitalization of $212.32 billion, a PE ratio of 61.78, a P/E/G ratio of 3.39 and a beta of 1.28. 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 company has a 50-day simple moving average of $682.89 and a two-hundred day simple moving average of $634.43. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share 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 for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the company earned $9.88 EPS. Intuit's quarterly revenue was up 15.1% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company 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 $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 yield of 0.55%. Intuit's payout ratio is currently 33.77%.

Analyst Ratings Changes

Several equities research analysts recently commented on INTU shares. Citigroup reissued a "buy" rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. KeyCorp reaffirmed an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a report on Friday, May 23rd. UBS Group set a $750.00 price target on Intuit and gave the company a "neutral" rating in a report on Friday, May 23rd. Mizuho upped their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $785.00 price target (up previously from $720.00) on shares of Intuit in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $787.95.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now owns 19 shares of the company's stock, valued at approximately $13,775. This trade represents a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 279,321 shares of company stock worth $207,988,705 over the last 90 days. Company insiders own 2.68% of the company's stock.

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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