Manchester Capital Management LLC Boosts Holdings in Intuit Inc. (NASDAQ:INTU)

Manchester Capital Management LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 17.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 613 shares of the software maker’s stock after acquiring an additional 91 shares during the quarter. Manchester Capital Management LLC’s holdings in Intuit were worth $377,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. CCLA Investment Management lifted its stake in Intuit by 2.0% in the first quarter. CCLA Investment Management now owns 206,633 shares of the software maker’s stock worth $126,827,000 after acquiring an additional 3,995 shares during the last quarter. Liberty Wealth Management LLC lifted its stake in Intuit by 1,595.7% in the first quarter. Liberty Wealth Management LLC now owns 34,219 shares of the software maker’s stock worth $21,010,000 after acquiring an additional 32,201 shares during the last quarter. J. Safra Sarasin Holding AG lifted its stake in Intuit by 24.6% in the first quarter. J. Safra Sarasin Holding AG now owns 3,238 shares of the software maker’s stock worth $1,988,000 after acquiring an additional 640 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in Intuit by 110.6% in the first quarter. Malaga Cove Capital LLC now owns 874 shares of the software maker’s stock worth $537,000 after acquiring an additional 459 shares during the last quarter. Finally, Aviso Wealth Management lifted its stake in Intuit by 59.9% in the first quarter. Aviso Wealth Management now owns 579 shares of the software maker’s stock worth $356,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU opened at $776.15 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $216.51 billion, a P/E ratio of 63.00, a P/E/G ratio of 2.99 and a beta of 1.28. The company’s fifty day moving average is $767.11 and its two-hundred day moving average is $662.40. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $813.70.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (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 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% compared to the same quarter last year. During the same period in the previous year, the company posted $9.88 EPS. On average, sell-side 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. Shareholders of record on Thursday, July 10th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

Insider Buying and Selling

In other news, EVP Kerry J. Mclean sold 16,700 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $729.16, for a total transaction of $12,176,972.00. Following the transaction, the executive vice president directly owned 23,101 shares of the company’s stock, valued at $16,844,325.16. This represents a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Marianna Tessel sold 34,329 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $760.84, for a total transaction of $26,118,876.36. Following the transaction, the executive vice president directly owned 40,767 shares in the company, valued at approximately $31,017,164.28. This trade represents a 45.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock worth $209,725,054 in the last ninety days. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTU. Susquehanna restated a “positive” rating on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 price objective on shares of Intuit and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Royal Bank Of Canada restated an “outperform” rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Wall Street Zen upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Finally, Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $806.27.

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.