Evanson Asset Management LLC Has $1.02 Million Position in Intuit Inc. (NASDAQ:INTU)

Evanson Asset Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 4.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,663 shares of the software maker’s stock after selling 86 shares during the quarter. Evanson Asset Management LLC’s holdings in Intuit were worth $1,021,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Copia Wealth Management bought a new position in shares of Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC boosted 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 purchasing 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 $28,000. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at about $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Intuit during the 4th quarter worth about $35,000. 83.66% of the stock is owned by institutional investors.

Intuit Stock Down 1.3%

NASDAQ:INTU opened at $754.83 on Friday. The firm has a market capitalization of $210.56 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 3.36 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The stock’s 50 day moving average price is $679.41 and its two-hundred day moving average price is $633.70.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same quarter last year, the company posted $9.88 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is presently 33.77%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. KeyCorp reaffirmed an “overweight” rating and set a $850.00 price target (up previously from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Finally, Evercore ISI raised their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. One 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $787.95.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the 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 transaction, the insider now directly owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president now owns 23,101 shares of the company’s stock, valued at approximately $16,844,325.16. This represents a 41.96% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,321 shares of company stock worth $207,988,705. 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.