Intuit Inc. (NASDAQ:INTU) Shares Sold by IMG Wealth Management Inc.

IMG Wealth Management Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177 shares of the software maker’s stock after selling 28 shares during the period. IMG Wealth Management Inc.’s holdings in Intuit were worth $109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. NewSquare Capital LLC increased its holdings in shares of 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 buying an additional 18 shares during the last quarter. Ethos Financial Group LLC increased its holdings in shares of Intuit by 3.7% during the 4th quarter. Ethos Financial Group LLC now owns 508 shares of the software maker’s stock worth $319,000 after buying an additional 18 shares during the last quarter. Legacy Investment Solutions LLC increased its holdings in shares of Intuit by 18.0% during the 4th quarter. Legacy Investment Solutions LLC now owns 118 shares of the software maker’s stock worth $68,000 after buying an additional 18 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Intuit by 18.4% during the 1st quarter. Financial Management Professionals Inc. now owns 116 shares of the software maker’s stock worth $71,000 after buying an additional 18 shares during the last quarter. Finally, Chris Bulman Inc increased its holdings in shares of Intuit by 1.2% during the 1st quarter. Chris Bulman Inc now owns 1,523 shares of the software maker’s stock worth $935,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

NASDAQ:INTU opened at $762.55 on Tuesday. The company has a fifty day simple moving average of $686.27 and a two-hundred day simple moving average of $635.14. The company has a market cap of $212.71 billion, a price-to-earnings ratio of 61.90, a price-to-earnings-growth ratio of 3.39 and a beta of 1.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $9.88 EPS. As a group, equities analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 469 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total transaction of $340,025.00. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at approximately $13,775. The trade was a 96.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 62,816 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $765.99, for a total transaction of $48,116,427.84. Following the transaction, the insider now 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 271,158 shares of company stock worth $202,989,194. Corporate insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INTU shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $850.00 price objective (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Bank of America increased their price objective on shares of Intuit from $730.00 to $875.00 and gave the stock a “buy” rating in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a “buy” rating in a research report on Friday, May 23rd. Hsbc Global Res raised shares of Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company set a $880.00 price objective on shares of Intuit and gave the stock an “overweight” rating in a research report on Friday, June 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $787.95.

Intuit Company 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.