Fortitude Family Office LLC Has $365,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Fortitude Family Office LLC decreased its stake in Intuit Inc. (NASDAQ:INTU) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 594 shares of the software maker’s stock after selling 18 shares during the quarter. Fortitude Family Office LLC’s holdings in Intuit were worth $365,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of INTU. Copia Wealth Management purchased a new stake in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% in the 4th 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. Summit Securities Group LLC purchased a new stake in shares of Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the 4th quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Intuit in the 4th quarter valued at approximately $35,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on INTU shares. Oppenheimer reaffirmed an “outperform” rating and set a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research report on Friday, May 23rd. 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. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Finally, HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last three months, insiders sold 288,408 shares of company stock valued at $213,441,865. Company insiders own 2.68% of the company’s stock.

Intuit Price Performance

NASDAQ:INTU opened at $764.75 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $213.32 billion, a P/E ratio of 74.25, a PEG ratio of 2.85 and a beta of 1.28. The company has a fifty day moving average price of $656.45 and a 200 day moving average price of $628.59. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.88 EPS. Analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

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