Claro Advisors LLC Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Claro Advisors LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 74.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 319 shares of the software maker’s stock after selling 911 shares during the period. Claro Advisors LLC’s holdings in Intuit were worth $207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. DiNuzzo Private Wealth Inc. purchased a new stake in Intuit during the 4th quarter worth $25,000. MCF Advisors LLC lifted its holdings in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Intuit in the 4th quarter worth $38,000. Sachetta LLC acquired a new position in Intuit in the 4th quarter worth $39,000. Finally, Webster Bank N. A. acquired a new position in Intuit in the 4th quarter worth $41,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

NASDAQ INTU opened at $656.22 on Wednesday. Intuit Inc. has a 52 week low of $444.19 and a 52 week 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 has a market cap of $183.45 billion, a price-to-earnings ratio of 60.53, a price-to-earnings-growth ratio of 3.76 and a beta of 1.23. The company has a 50-day moving average price of $619.43 and a two-hundred day moving average price of $628.63.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm 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. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. Analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

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 given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INTU. Citigroup boosted their price objective on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Wells Fargo & Company upped their target price on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Finally, BMO Capital Markets restated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a research note on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $683.91.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the company’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 transaction, 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 legal filing with the SEC, which is available through the SEC website. In other news, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 14,748 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the completion of the transaction, the insider now owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,937 shares of company stock worth $113,123,232. Insiders own 2.90% of the company’s stock.

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.