Clearstead Trust LLC Increases Stock Position in Intuit Inc. (NASDAQ:INTU)

Clearstead Trust LLC raised its stake in shares of Intuit Inc. (NASDAQ:INTU) by 20.0% during the first quarter, HoldingsChannel reports. The fund owned 846 shares of the software maker’s stock after acquiring an additional 141 shares during the quarter. Clearstead Trust LLC’s holdings in Intuit were worth $520,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INTU. Pinnacle Financial Partners Inc increased its stake in Intuit by 3.6% during the 1st quarter. Pinnacle Financial Partners Inc now owns 17,789 shares of the software maker’s stock valued at $10,922,000 after buying an additional 623 shares during the period. Capitolis Liquid Global Markets LLC acquired a new position in Intuit during the 4th quarter valued at about $109,988,000. Financial Gravity Asset Management Inc. acquired a new position in Intuit during the 1st quarter valued at about $2,285,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Intuit during the 4th quarter valued at about $237,244,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Intuit by 16.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 6,905 shares of the software maker’s stock valued at $4,240,000 after buying an additional 962 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INTU has been the topic of several recent research reports. Evercore ISI lifted their price objective on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a research note on Friday, May 23rd. Stifel Nicolaus lifted their price objective on shares of Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Oppenheimer lifted their price objective on shares of Intuit from $742.00 to $868.00 and gave the stock an “outperform” rating in a research note on Monday, July 28th. Wells Fargo & Company set a $880.00 target price on shares of Intuit and gave the stock an “overweight” rating in a report on Friday, June 13th. Finally, HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $806.27.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,738 shares of Intuit stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $784.09, for a total transaction of $1,362,748.42. Following the completion of the sale, the chief accounting officer owned 455 shares in the company, valued at approximately $356,760.95. This trade represents a 79.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 2,591 shares of Intuit stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $782.22, for a total value of $2,026,732.02. Following the sale, the chief financial officer owned 768 shares of the company’s stock, valued at approximately $600,744.96. This trade represents a 77.14% 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 quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Intuit stock opened at $776.15 on Monday. The stock has a market capitalization of $216.51 billion, a price-to-earnings ratio of 63.00, a PEG ratio of 2.99 and a beta of 1.28. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $813.70. The stock’s 50 day moving average price is $767.11 and its two-hundred day moving average price is $662.40. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45.

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, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. During the same period last year, the business earned $9.88 EPS. Intuit’s quarterly revenue was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

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.