Sage Mountain Advisors LLC Purchases 222 Shares of Intuit Inc. (NASDAQ:INTU)

Sage Mountain Advisors LLC grew its position in Intuit Inc. (NASDAQ:INTU) by 17.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,504 shares of the software maker’s stock after acquiring an additional 222 shares during the period. Sage Mountain Advisors LLC’s holdings in Intuit were worth $923,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of INTU. Copia Wealth Management acquired a new stake in Intuit during the 4th quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit during the 4th quarter worth about $28,000. VSM Wealth Advisory LLC acquired a new stake in Intuit during the 4th quarter worth about $35,000. Finally, Olde Wealth Management LLC acquired a new stake in Intuit during the 1st quarter worth about $37,000. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total value of $11,662,373.93. Following the completion of the transaction, the chief financial officer directly owned 197 shares in the company, valued at approximately $143,047.61. The trade was a 98.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of Intuit stock in a transaction that occurred on 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 transaction, the insider owned 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock worth $209,725,054 in the last three months. Insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $850.00 price target (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets set a $870.00 target price on Intuit and gave the company an “outperform” rating in a research note on Thursday. Stifel Nicolaus raised 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. Wells Fargo & Company set a $880.00 target price on Intuit and gave the company an “overweight” rating in a research note on Friday, June 13th. Finally, Susquehanna reaffirmed a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $800.55.

Intuit Trading Up 0.6%

NASDAQ:INTU opened at $752.75 on Tuesday. 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 capitalization of $209.98 billion, a PE ratio of 61.10, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The firm’s 50 day moving average is $735.45 and its 200 day moving average is $647.51. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $790.60.

Intuit (NASDAQ:INTU) last posted 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. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. Intuit’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.88 EPS. Sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend 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 is 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.