Cobblestone Capital Advisors LLC NY Takes $473,000 Position in Intuit Inc. (NASDAQ:INTU)

Cobblestone Capital Advisors LLC NY bought a new stake in Intuit Inc. (NASDAQ:INTUFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 771 shares of the software maker’s stock, valued at approximately $473,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. lifted its stake 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 purchasing an additional 18 shares during the period. Chris Bulman Inc lifted its stake 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 purchasing an additional 18 shares during the period. Kolinsky Wealth Management LLC lifted its stake in shares of Intuit by 1.6% during the 4th quarter. Kolinsky Wealth Management LLC now owns 1,192 shares of the software maker’s stock worth $749,000 after purchasing an additional 19 shares during the period. Norden Group LLC lifted its stake in shares of Intuit by 1.2% during the 1st quarter. Norden Group LLC now owns 1,663 shares of the software maker’s stock worth $1,021,000 after purchasing an additional 19 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Intuit by 2.6% in the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 791 shares of the software maker’s stock worth $486,000 after buying an additional 20 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 1.7%

INTU opened at $749.00 on Monday. The firm’s fifty day moving average is $769.27 and its two-hundred day moving average is $668.11. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $208.93 billion, a PE ratio of 60.80, a price-to-earnings-growth ratio of 2.89 and a beta of 1.28. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $813.70.

Intuit (NASDAQ:INTUGet Free Report) last posted its earnings results 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $9.88 earnings per share. Equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Thursday, July 10th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 1,147 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total transaction of $887,663.30. Following the sale, the executive vice president directly owned 19 shares in the company, valued at $14,704.10. This trade represents a 98.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard L. Dalzell sold 333 shares of the firm’s stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $768.43, for a total transaction of $255,887.19. Following the sale, the director owned 15,474 shares in the company, valued at approximately $11,890,685.82. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on INTU. Morgan Stanley increased their target price on Intuit from $785.00 to $900.00 and gave the stock an “overweight” rating in a research report on Monday, July 7th. CLSA began coverage on Intuit in a research report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 target price on the stock. Oppenheimer increased their target price on Intuit from $742.00 to $868.00 and gave the stock an “outperform” rating in a research report on Monday, July 28th. BMO Capital Markets increased their target price on Intuit from $820.00 to $870.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group increased their target price on Intuit from $750.00 to $860.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $806.27.

View Our Latest Stock Analysis on Intuit

Intuit Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

Receive News & Ratings for Intuit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuit and related companies with MarketBeat.com's FREE daily email newsletter.