Intuit Inc. (NASDAQ:INTU) Shares Purchased by Wendell David Associates Inc.

Wendell David Associates Inc. increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,033 shares of the software maker’s stock after purchasing an additional 180 shares during the period. Intuit accounts for about 2.5% of Wendell David Associates Inc.’s holdings, making the stock its 11th biggest holding. Wendell David Associates Inc.’s holdings in Intuit were worth $24,580,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Copia Wealth Management acquired a new stake in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Intuit during the fourth quarter valued at about $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Intuit during the fourth quarter valued at about $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 72,442 shares of the business’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 transaction, the insider now directly owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of the business’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 sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This represents a 99.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,408 shares of company stock worth $213,441,865 over the last ninety days. 2.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on INTU shares. Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Oppenheimer reissued an “outperform” rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit 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 price objective for the company in a research note on Wednesday, April 23rd. Mizuho lifted their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $787.95.

Intuit Trading Up 1.9%

NASDAQ INTU opened at $768.08 on Tuesday. 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 firm has a market cap of $214.25 billion, a PE ratio of 74.57, a P/E/G ratio of 2.85 and a beta of 1.28. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The firm’s fifty day moving average is $669.33 and its two-hundred day moving average is $631.09.

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

Intuit Announces Dividend

The company also recently declared 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 of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. Intuit’s dividend payout ratio (DPR) 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.