Intuit Inc. (NASDAQ:INTU) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC boosted its position in Intuit Inc. (NASDAQ:INTU) by 18.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616 shares of the software maker’s stock after purchasing an additional 96 shares during the period. SeaCrest Wealth Management LLC’s holdings in Intuit were worth $400,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of INTU. Vanguard Group Inc. raised its stake in shares of Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after buying an additional 117,478 shares during the last quarter. Morgan Stanley raised its position in Intuit by 3.7% during the third quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after purchasing an additional 80,517 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $2,101,848,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ:INTU opened at $656.22 on Wednesday. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62. The firm has a market capitalization of $183.45 billion, a price-to-earnings ratio of 60.54, a PEG ratio of 3.76 and a beta of 1.23. 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 firm’s fifty day simple moving average is $619.43 and its 200 day simple moving average is $628.63.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.61% and a net margin of 19.43%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.80 earnings per share. As a group, equities research analysts expect 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. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.55%. Intuit’s payout ratio is currently 33.21%.

Analyst Ratings Changes

Several brokerages recently issued reports on INTU. Royal Bank of Canada started coverage on Intuit in a research report on Wednesday. They set an “outperform” rating and a $760.00 price objective for the company. Morgan Stanley increased their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. UBS Group lifted their price objective on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Stifel Nicolaus reduced their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Finally, Piper Sandler raised their price target on shares of Intuit from $750.00 to $760.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Insider Activity

In other news, insider Scott D. Cook sold 14,748 shares of Intuit stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the sale, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 14,748 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 193,937 shares of company stock worth $113,123,232. 2.90% of the stock is currently owned by company insiders.

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.