Intuit Inc. (NASDAQ:INTU) Stock Position Lessened by Graypoint LLC

Graypoint LLC decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,989 shares of the software maker’s stock after selling 56 shares during the quarter. Graypoint LLC’s holdings in Intuit were worth $2,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at $25,000. Summit Securities Group LLC acquired a new stake in shares of Intuit in the fourth quarter valued at $28,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the fourth quarter valued at $28,000. VSM Wealth Advisory LLC acquired a new stake in shares of Intuit in the fourth quarter valued at $35,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Intuit in the first quarter valued at $37,000. Institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on INTU shares. Susquehanna restated a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Barclays reaffirmed an “overweight” rating and set a $815.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Jefferies Financial Group set a $850.00 target price on Intuit and gave the company a “buy” rating in a report on Friday, May 23rd. Evercore ISI upped their target price on Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a report on Friday, May 23rd. Finally, Morgan Stanley upped their target price on Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $800.55.

Intuit Stock Up 0.6%

INTU opened at $750.72 on Thursday. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60. The business has a 50-day moving average of $740.03 and a 200-day moving average of $648.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $209.41 billion, a PE ratio of 60.94, a price-to-earnings-growth ratio of 3.31 and a beta of 1.27.

Intuit (NASDAQ:INTU) last issued 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 business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.88 EPS. Equities research analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders 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 dividend payout ratio is 33.77%.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the sale, the chief financial officer owned 197 shares of the company’s stock, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Marianna Tessel sold 34,329 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $760.84, for a total value of $26,118,876.36. Following the completion of the sale, the executive vice president directly owned 40,767 shares in the company, valued at $31,017,164.28. This trade represents a 45.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 in the last 90 days. Company insiders own 2.68% of the company’s stock.

About Intuit

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.