Intuit Inc. (NASDAQ:INTU) Shares Sold by Braun Bostich & Associates Inc.

Braun Bostich & Associates Inc. decreased its position in Intuit Inc. (NASDAQ:INTU) by 8.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341 shares of the software maker’s stock after selling 32 shares during the period. Braun Bostich & Associates Inc.’s holdings in Intuit were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in INTU. Copia Wealth Management acquired a new position in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the period. Summit Securities Group LLC purchased a new position in shares of Intuit during the fourth quarter worth $28,000. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter valued at $28,000. Finally, VSM Wealth Advisory LLC purchased a new stake in Intuit in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $764.75 on Thursday. The firm has a 50 day simple moving average of $656.45 and a 200-day simple moving average of $628.59. The stock has a market cap of $213.32 billion, a price-to-earnings ratio of 74.25, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. 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 issued 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the business posted $9.88 earnings per share. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

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

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 1,459 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the transaction, the insider now directly owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. Morgan Stanley reissued an “overweight” rating and set a $785.00 price target (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $820.00 price objective (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. KeyCorp restated an “overweight” rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. One 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $785.33.

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.