Intuit Inc. (NASDAQ:INTU) Shares Purchased by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC grew its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,594 shares of the software maker’s stock after acquiring an additional 375 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Intuit were worth $5,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Copia Wealth Management acquired a new position in Intuit in the fourth quarter worth $25,000. NewSquare Capital LLC lifted its position in shares of 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 buying an additional 18 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Intuit in the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Intuit during the 4th quarter valued at about $35,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 1.6%

Shares of INTU stock opened at $753.98 on Monday. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average is $664.85 and its 200-day moving average is $630.21. The stock has a market cap of $210.32 billion, a PE ratio of 73.20, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the company earned $9.88 earnings per share. Intuit’s revenue was up 15.1% compared to the same quarter last year. Equities analysts expect 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. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio is presently 33.77%.

Analysts Set New Price Targets

A number of brokerages have commented on INTU. Stifel Nicolaus lifted their target price on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. The Goldman Sachs Group raised their price target on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Oppenheimer restated an “outperform” rating and set a $742.00 price objective (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Finally, UBS Group set a $750.00 price target on shares of Intuit and gave the company a “neutral” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $787.95.

Insider Buying and Selling

In other Intuit 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 transaction of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,408 shares of company stock worth $213,441,865 in the last three months. 2.68% of the stock is currently owned by insiders.

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.