Intuit Inc. (NASDAQ:INTU) Shares Bought by Naviter Wealth LLC

Naviter Wealth LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 20.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,506 shares of the software maker’s stock after purchasing an additional 419 shares during the period. Naviter Wealth LLC’s holdings in Intuit were worth $1,629,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the fourth quarter worth approximately $25,000. MCF Advisors LLC boosted its stake in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Intuit in the fourth quarter worth approximately $38,000. Sachetta LLC acquired a new stake in shares of Intuit in the fourth quarter worth approximately $39,000. Finally, Webster Bank N. A. purchased a new position in Intuit during the fourth quarter worth approximately $41,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Stifel Nicolaus reduced their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. BMO Capital Markets reiterated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. KeyCorp lifted their price objective on Intuit from $720.00 to $740.00 and gave the stock 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 twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction dated 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 directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders sold a total of 193,937 shares of company stock valued at $113,123,232 in the last three months. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Up 0.8 %

INTU opened at $656.22 on Wednesday. The business has a fifty day moving average price of $619.43 and a 200 day moving average price of $628.63. The stock 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. 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 current ratio of 1.50 and a quick ratio of 1.50.

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, topping the consensus estimate of $8.12 by $1.76. The business had revenue of $6.74 billion during 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 business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.80 EPS. Sell-side analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

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.