Wealthcare Advisory Partners LLC Acquires 152 Shares of Intuit Inc. (NASDAQ:INTU)

Wealthcare Advisory Partners LLC lifted its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 23.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 793 shares of the software maker’s stock after purchasing an additional 152 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Intuit were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. bought a new stake in Intuit in the 4th quarter valued at $25,000. MCF Advisors LLC boosted its stake in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the period. Wetzel Investment Advisors Inc. bought a new stake in Intuit in the 4th quarter valued at $38,000. Sachetta LLC bought a new stake in Intuit in the 4th quarter valued at $39,000. Finally, Webster Bank N. A. bought a new stake in Intuit in the 4th quarter valued at $41,000. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Intuit news, insider Scott D. Cook sold 27,309 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,937 shares of company stock worth $113,123,232. Insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $657.21 on Friday. Intuit Inc. has a 12-month low of $444.19 and a 12-month high of $676.62. The business has a 50-day simple moving average of $618.61 and a two-hundred day simple moving average of $628.16. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The stock has a market cap of $183.72 billion, a PE ratio of 60.63, a PEG ratio of 3.73 and a beta of 1.21.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the firm earned $7.80 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be issued a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s payout ratio is presently 33.21%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley boosted their price target on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Susquehanna cut their target price on Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research report on Friday, May 24th. Stifel Nicolaus cut their target price on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. KeyCorp upped their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $683.91.

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.