Intuit Inc. (NASDAQ:INTU) Shares Bought by Baxter Bros Inc.

Baxter Bros Inc. lifted its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,340 shares of the software maker’s stock after acquiring an additional 70 shares during the period. Intuit comprises approximately 4.9% of Baxter Bros Inc.’s holdings, making the stock its 3rd largest holding. Baxter Bros Inc.’s holdings in Intuit were worth $37,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewSquare Capital LLC grew its stake in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Ethos Financial Group LLC raised its stake in shares of Intuit by 3.7% during the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock worth $319,000 after purchasing an additional 18 shares in the last quarter. Legacy Investment Solutions LLC lifted its holdings in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock valued at $68,000 after buying an additional 18 shares during the last quarter. Plancorp LLC grew its stake in shares of Intuit by 2.2% in the 4th quarter. Plancorp LLC now owns 889 shares of the software maker’s stock valued at $559,000 after buying an additional 19 shares in the last quarter. Finally, Kolinsky Wealth Management LLC grew its stake in shares of Intuit by 1.6% in the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker’s stock valued at $749,000 after buying an additional 19 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Up 1.5%

INTU opened at $764.99 on Tuesday. The business has a 50 day moving average of $633.69 and a 200-day moving average of $622.92. The stock has a market capitalization of $213.39 billion, a price-to-earnings ratio of 74.27, a P/E/G ratio of 2.85 and a beta of 1.24. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $766.54.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results 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 17.59% and a return on equity of 18.25%. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same period in the prior year, the firm earned $9.88 EPS. The business’s revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

Analyst Ratings Changes

INTU has been the subject of a number of analyst reports. Redburn Atlantic assumed coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Wells Fargo & Company restated an “overweight” rating and set a $825.00 price target (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. Evercore ISI lifted their price objective on shares of Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research note on Friday, May 23rd. HSBC raised shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the completion of the transaction, the chief financial officer now directly owns 197 shares of the company’s stock, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,804 shares of company stock worth $138,081,963. 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.