Net Worth Advisory Group Boosts Stake in Intuit Inc. (NASDAQ:INTU)

Net Worth Advisory Group raised its position in Intuit Inc. (NASDAQ:INTU) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,182 shares of the software maker’s stock after purchasing an additional 119 shares during the quarter. Intuit accounts for approximately 0.6% of Net Worth Advisory Group’s holdings, making the stock its 24th biggest holding. Net Worth Advisory Group’s holdings in Intuit were worth $1,954,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Intuit by 2.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares during the period. Capitolis Liquid Global Markets LLC purchased a new position in shares of Intuit during the fourth quarter worth approximately $109,988,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Intuit during the fourth quarter worth approximately $237,244,000. V Square Quantitative Management LLC increased its position in shares of Intuit by 7.0% during the fourth quarter. V Square Quantitative Management LLC now owns 7,671 shares of the software maker’s stock worth $4,821,000 after acquiring an additional 501 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in shares of Intuit during the fourth quarter worth approximately $10,757,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 62,816 shares of the stock in a transaction dated 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 sale, the insider now directly owns 6,000,679 shares of the company’s stock, valued at $4,596,460,107.21. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Alex G. Balazs sold 1,459 shares of the stock in a transaction dated Thursday, June 5th. The stock was 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 have sold a total of 288,408 shares of company stock valued at $213,441,865 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Price Performance

NASDAQ:INTU opened at $764.75 on Thursday. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $213.32 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.85 and a beta of 1.28. The firm’s fifty day moving average is $656.45 and its two-hundred day moving average is $628.59.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating 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 company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company earned $9.88 earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INTU. Oppenheimer reissued an “outperform” rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a research note on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $785.00 price target (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Barclays reaffirmed an “overweight” rating and issued a $815.00 price target (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, Evercore ISI lifted their price target on shares of Intuit from $685.00 to $785.00 and gave the stock an “outperform” rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $785.33.

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.