New Republic Capital LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

New Republic Capital LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 438 shares of the software maker’s stock after selling 22 shares during the period. New Republic Capital LLC’s holdings in Intuit were worth $269,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INTU. Copia Wealth Management purchased a new position in Intuit in the 4th quarter worth approximately $25,000. Summit Securities Group LLC purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter worth approximately $28,000. Olde Wealth Management LLC bought a new stake in Intuit in the 1st quarter worth approximately $37,000. Finally, Atlantic Edge Private Wealth Management LLC increased its stake in Intuit by 523.1% in the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock worth $50,000 after acquiring an additional 68 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,738 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $784.09, for a total value of $1,362,748.42. Following the completion of the sale, the chief accounting officer directly owned 455 shares in the company, valued at approximately $356,760.95. This represents a 79.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the company’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company’s stock, valued at $11,890,685.82. This represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 279,800 shares of company stock worth $209,725,054. 2.68% of the stock is owned by company insiders.

Analyst Ratings Changes

INTU has been the topic of a number of research reports. KeyCorp reaffirmed an “overweight” rating and issued a $850.00 price objective (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on Intuit from $660.00 to $770.00 and gave the stock an “overweight” rating in a research note on Friday, May 23rd. BMO Capital Markets lifted their price objective on Intuit from $820.00 to $870.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. CLSA initiated coverage on Intuit in a research note on Thursday, June 26th. They issued an “outperform” rating and a $900.00 price objective on the stock. Finally, Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $800.55.

Intuit Stock Performance

Shares of Intuit stock opened at $785.95 on Monday. The stock’s fifty day moving average is $755.39 and its two-hundred day moving average is $656.22. The company has a market capitalization of $219.24 billion, a PE ratio of 63.79, a price-to-earnings-growth ratio of 3.49 and a beta of 1.27. 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 52 week low of $532.65 and a 52 week high of $790.60.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit’s dividend payout ratio is 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.