Intuit Inc. (NASDAQ:INTU) Shares Sold by IMG Wealth Management Inc.

IMG Wealth Management Inc. lessened its stake in Intuit Inc. (NASDAQ:INTU) by 13.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 177 shares of the software maker’s stock after selling 28 shares during the period. IMG Wealth Management Inc.’s holdings in Intuit were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of INTU. YHB Investment Advisors Inc. raised its holdings in shares of Intuit by 1.3% in the first quarter. YHB Investment Advisors Inc. now owns 20,512 shares of the software maker’s stock valued at $12,594,000 after buying an additional 261 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Intuit by 469.6% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 131 shares of the software maker’s stock valued at $80,000 after buying an additional 108 shares during the last quarter. Legacy Advisors LLC raised its holdings in shares of Intuit by 1.6% in the first quarter. Legacy Advisors LLC now owns 6,776 shares of the software maker’s stock valued at $4,160,000 after buying an additional 107 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Intuit by 7.0% in the first quarter. Asset Management One Co. Ltd. now owns 120,357 shares of the software maker’s stock valued at $73,898,000 after buying an additional 7,860 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Intuit by 36.6% in the first quarter. Oppenheimer & Co. Inc. now owns 14,889 shares of the software maker’s stock valued at $9,142,000 after buying an additional 3,986 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INTU. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. Citigroup reaffirmed a “buy” rating and issued a $789.00 target price (up from $726.00) on shares of Intuit in a report on Friday, May 23rd. UBS Group set a $750.00 price target on shares of Intuit and gave the stock a “neutral” rating in a report on Friday, May 23rd. Mizuho increased their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, Stifel Nicolaus increased their price target on shares of Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $787.95.

Insider Activity

In other news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction that occurred on 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kerry J. Mclean sold 16,700 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the completion of the sale, the executive vice president now owns 23,101 shares in the company, valued at $16,844,325.16. This represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,158 shares of company stock worth $202,989,194 over the last ninety days. 2.68% of the stock is currently owned by insiders.

Intuit Trading Up 0.2%

Shares of Intuit stock opened at $762.55 on Tuesday. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.29. The stock has a market cap of $212.71 billion, a PE ratio of 61.90, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a 50-day moving average of $686.27 and a two-hundred day moving average of $635.14.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (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 company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the company posted $9.88 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit’s dividend payout ratio is presently 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.