Aprio Wealth Management LLC Purchases 92 Shares of Intuit Inc. (NASDAQ:INTU)

Aprio Wealth Management LLC grew its position in shares of Intuit Inc. (NASDAQ:INTU) by 26.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 440 shares of the software maker’s stock after purchasing an additional 92 shares during the period. Aprio Wealth Management LLC’s holdings in Intuit were worth $286,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in INTU. Parnassus Investments LLC lifted its stake in shares of Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after acquiring an additional 727,185 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock valued at $13,293,000 after purchasing an additional 226 shares during the period. Public Employees Retirement System of Ohio increased its holdings in Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after purchasing an additional 1,990 shares during the period. Glenmede Trust Co. NA increased its holdings in Intuit by 12.7% during the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after purchasing an additional 2,074 shares during the period. Finally, Hixon Zuercher LLC purchased a new position in Intuit during the 4th quarter valued at about $1,292,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU stock opened at $632.15 on Friday. The stock has a market capitalization of $176.72 billion, a PE ratio of 58.32, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. Intuit Inc. has a 12-month low of $442.74 and a 12-month high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $615.61 and its 200 day simple moving average is $625.63.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $7.80 EPS. As a group, research analysts forecast that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s payout ratio is 33.21%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INTU shares. KeyCorp boosted their price target on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Bank of America reduced their price target on Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a report on Friday, May 24th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Oppenheimer upped their target price on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Five equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $679.41.

Insider Activity

In other news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the transaction, the insider now directly owns 6,524,412 shares of the company’s stock, valued at approximately $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total value of $16,198,606.44. Following the completion of the sale, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares of the company’s stock, valued at $525,380.02. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock valued at $113,123,232 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

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.