RHS Financial LLC Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

RHS Financial LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 505 shares of the software maker’s stock after selling 25 shares during the period. RHS Financial LLC’s holdings in Intuit were worth $328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Desjardins Global Asset Management Inc. increased its holdings in Intuit by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares in the last quarter. JFS Wealth Advisors LLC increased its stake in shares of Intuit by 1.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock worth $978,000 after purchasing an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Intuit by 3.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 16 shares in the last quarter. GAM Holding AG boosted its position in Intuit by 0.3% during the fourth quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after acquiring an additional 17 shares during the last quarter. Finally, Janiczek Wealth Management LLC boosted its position in Intuit by 2.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock worth $448,000 after acquiring an additional 17 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $10.32 during midday trading on Monday, reaching $646.89. 385,461 shares of the company’s stock were exchanged, compared to its average volume of 1,343,378. The company’s 50 day simple moving average is $618.61 and its two-hundred day simple moving average is $628.28. The firm has a market capitalization of $180.84 billion, a PE ratio of 60.63, a price-to-earnings-growth ratio of 3.76 and a beta of 1.23. Intuit Inc. has a 12 month low of $444.19 and a 12 month high of $676.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

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

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is currently 33.21%.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the sale, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Insiders sold 193,937 shares of company stock valued at $113,123,232 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Susquehanna decreased their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a report on Friday, May 24th. Morgan Stanley lifted their price target on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. BMO Capital Markets restated an “outperform” rating and set a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, Bank of America reduced their target price on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $683.91.

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.