Wealthfront Advisers LLC Raises Holdings in Intuit Inc. (NASDAQ:INTU)

Wealthfront Advisers LLC grew its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,226 shares of the software maker's stock after purchasing an additional 4,573 shares during the quarter. Wealthfront Advisers LLC's holdings in Intuit were worth $26,540,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of INTU. Copia Wealth Management acquired a new position in shares of Intuit during 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 purchased a new stake in shares of Intuit in the 4th quarter valued at approximately $28,000. VSM Wealth Advisory LLC purchased a new stake in shares of Intuit during the 4th quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC acquired a new position in Intuit in the first quarter valued at approximately $37,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 1,738 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares of the company's stock, valued at approximately $356,760.95. This represents a 79.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of Intuit stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

Shares of INTU stock opened at $752.75 on Tuesday. The company has a market cap of $209.98 billion, a P/E ratio of 61.10, a PEG ratio of 3.33 and a beta of 1.27. The firm has a fifty day moving average price of $735.45 and a 200 day moving average price of $647.51. 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 Inc. has a 12 month low of $532.65 and a 12 month high of $790.60.

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 (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period in the prior year, the firm posted $9.88 EPS. The business's quarterly revenue was up 15.1% compared to the same quarter last year. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.55%. Intuit's dividend payout ratio is currently 33.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTU. Royal Bank Of Canada reiterated an "outperform" rating and set a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America boosted their target price on Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price target on Intuit and gave the stock an "overweight" rating in a research note on Friday, June 13th. 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, Intuit has an average rating of "Moderate Buy" and a consensus target price of $800.55.

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.

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