Intuit Inc. (NASDAQ:INTU) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,229 shares of the software maker’s stock after selling 162 shares during the period. MV Capital Management Inc.’s holdings in Intuit were worth $2,597,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in INTU. Copia Wealth Management purchased a new position in shares of Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC increased its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Heck Capital Advisors LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $28,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Intuit in the 4th quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INTU. Morgan Stanley restated an “overweight” rating and set a $785.00 price objective (up previously from $720.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. The Goldman Sachs Group boosted their price objective on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 target price on the stock in a research report on Wednesday, April 23rd. Finally, Bank of America lifted their price target on Intuit from $730.00 to $875.00 and gave the company a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $785.33.

Insider Activity

In other news, insider Scott D. Cook sold 62,816 shares of Intuit stock in a transaction on Monday, June 9th. The shares were sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the completion of the sale, the insider now directly owns 6,000,679 shares of the company’s stock, valued at approximately $4,596,460,107.21. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold 288,408 shares of company stock worth $213,441,865 in the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Price Performance

INTU stock opened at $762.10 on Wednesday. The stock has a market capitalization of $212.59 billion, a PE ratio of 73.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company’s 50-day moving average is $652.38 and its 200-day moving average is $627.65. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.45.

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

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio is 33.77%.

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.