Transform Wealth LLC Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Transform Wealth LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 20.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 705 shares of the software maker’s stock after selling 180 shares during the quarter. Transform Wealth LLC’s holdings in Intuit were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC boosted its position 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 period. Wellington Management Group LLP grew its stake 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 position 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% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after buying an additional 498,030 shares during the period. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INTU shares. Citigroup restated a “buy” rating and set a $789.00 price objective (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research note on Friday, May 23rd. Susquehanna reaffirmed a “positive” rating on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Mizuho upped their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Price Performance

Shares of INTU opened at $764.75 on Thursday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The company has a 50 day moving average of $656.45 and a two-hundred day moving average of $628.59. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $213.32 billion, a price-to-earnings ratio of 74.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

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, topping analysts’ consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.88 earnings per share. As a group, analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business 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 dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.54%. Intuit’s payout ratio is currently 33.77%.

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the company’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 value of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, 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 have sold 288,408 shares of company stock valued at $213,441,865 over the last ninety days. 2.68% of the stock is currently owned by insiders.

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.