Regent Peak Wealth Advisors LLC Has $662,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Regent Peak Wealth Advisors LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,077 shares of the software maker’s stock after selling 136 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Intuit were worth $662,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Orrstown Financial Services Inc. boosted its position in Intuit by 6.2% during the 1st quarter. Orrstown Financial Services Inc. now owns 498 shares of the software maker’s stock worth $306,000 after acquiring an additional 29 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Intuit by 7.0% during the 1st quarter. Sivia Capital Partners LLC now owns 720 shares of the software maker’s stock worth $442,000 after acquiring an additional 47 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Intuit by 291.0% during the 1st quarter. Gateway Investment Advisers LLC now owns 14,026 shares of the software maker’s stock worth $8,612,000 after acquiring an additional 10,439 shares during the last quarter. Stokes Capital Advisors LLC boosted its position in Intuit by 4.1% during the 1st quarter. Stokes Capital Advisors LLC now owns 7,025 shares of the software maker’s stock worth $4,313,000 after acquiring an additional 274 shares during the last quarter. Finally, KFG Wealth Management LLC boosted its position in Intuit by 12.7% during the 1st quarter. KFG Wealth Management LLC now owns 1,014 shares of the software maker’s stock worth $622,000 after acquiring an additional 114 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INTU shares. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a research note on Wednesday, April 23rd. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $825.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Oppenheimer reiterated an “outperform” rating and set a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price objective on Intuit and gave the stock a “buy” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $785.33.

Intuit Stock Up 0.6%

INTU stock opened at $771.58 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $215.23 billion, a price-to-earnings ratio of 74.91, a PEG ratio of 2.85 and a beta of 1.28. The business’s fifty day moving average price is $646.24 and its two-hundred day moving average price is $626.21. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $773.45.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter last year, the business earned $9.88 EPS. On average, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is currently 33.77%.

Insider Buying and Selling

In related news, Director Eve B. Burton sold 1,702 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,592 shares of company stock worth $165,325,437. Company insiders own 2.68% of the company’s stock.

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.