Blue Sky Capital Consultants Group Inc. Sells 41 Shares of Intuit Inc. (NASDAQ:INTU)

Blue Sky Capital Consultants Group Inc. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 489 shares of the software maker’s stock after selling 41 shares during the period. Blue Sky Capital Consultants Group Inc.’s holdings in Intuit were worth $300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Copia Wealth Management bought a new position in shares of Intuit during the 4th quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Intuit during the 4th quarter valued at approximately $28,000. Olde Wealth Management LLC bought a new position in shares of Intuit during the 1st quarter valued at approximately $37,000. Atlantic Edge Private Wealth Management LLC grew its position in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker’s stock valued at $50,000 after acquiring an additional 68 shares during the period. Finally, Hughes Financial Services LLC bought a new position in shares of Intuit during the 1st quarter valued at approximately $50,000. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

INTU stock opened at $776.15 on Friday. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $813.70. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $767.11 and a two-hundred day simple moving average of $662.02. The firm has a market capitalization of $216.51 billion, a P/E ratio of 63.00, a price-to-earnings-growth ratio of 3.44 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released 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. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same quarter last year, the business earned $9.88 earnings per share. Intuit’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Thursday, July 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.5%. Intuit’s dividend payout ratio is currently 33.77%.

Insiders Place Their Bets

In other news, EVP Mark P. Notarainni sold 1,147 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the sale, the executive vice president owned 19 shares of the company’s stock, valued at approximately $14,704.10. This represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the completion of the transaction, the director directly owned 15,474 shares in the company, valued at $11,890,685.82. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 279,800 shares of company stock valued at $209,725,054. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Evercore ISI increased their target price on shares of Intuit from $685.00 to $785.00 and gave the company an “outperform” rating in a research report on Friday, May 23rd. KeyCorp restated an “overweight” rating and set a $850.00 price target (up from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley upped their price target on shares of Intuit from $785.00 to $900.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Barclays restated an “overweight” rating and set a $815.00 price target (up from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Wells Fargo & Company set a $880.00 price target on shares of Intuit and gave the company an “overweight” rating in a research note on Friday, June 13th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $806.27.

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.