Intuit Inc. (NASDAQ:INTU) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 1.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,981 shares of the software maker’s stock after selling 26 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Intuit were worth $1,216,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Illumine Investment Management LLC boosted its holdings in Intuit by 2.6% in the 1st quarter. Illumine Investment Management LLC now owns 4,732 shares of the software maker’s stock worth $2,906,000 after buying an additional 119 shares during the last quarter. EWA LLC boosted its stake in shares of Intuit by 3.6% in the first quarter. EWA LLC now owns 682 shares of the software maker’s stock worth $419,000 after acquiring an additional 24 shares during the last quarter. Atticus Wealth Management LLC boosted its stake in shares of Intuit by 24.9% in the first quarter. Atticus Wealth Management LLC now owns 702 shares of the software maker’s stock worth $431,000 after acquiring an additional 140 shares during the last quarter. Buck Wealth Strategies LLC boosted its stake in shares of Intuit by 9.4% in the first quarter. Buck Wealth Strategies LLC now owns 15,356 shares of the software maker’s stock worth $9,428,000 after acquiring an additional 1,320 shares during the last quarter. Finally, Running Oak Capital LLC acquired a new stake in shares of Intuit in the first quarter worth approximately $15,304,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 62,816 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the sale, the insider now directly owns 6,000,679 shares in the company, valued at approximately $4,596,460,107.21. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 271,158 shares of company stock worth $202,989,194 in the last ninety days. 2.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. KeyCorp reaffirmed an “overweight” rating and set a $850.00 target price (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Barclays restated an “overweight” rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Stifel Nicolaus boosted their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Bank of America boosted their target price on Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a report 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $787.95.

Intuit Stock Performance

Shares of INTU stock opened at $762.55 on Tuesday. The firm’s 50 day moving average price is $686.27 and its 200-day moving average price is $635.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The firm has a market cap of $212.71 billion, a P/E ratio of 61.90, a P/E/G ratio of 3.39 and a beta of 1.28.

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

Intuit Dividend Announcement

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

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.