Outfitter Financial LLC Sells 430 Shares of Intuit Inc. (NASDAQ:INTU)

Outfitter Financial LLC reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 12.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,129 shares of the software maker’s stock after selling 430 shares during the quarter. Intuit comprises 1.7% of Outfitter Financial LLC’s investment portfolio, making the stock its 22nd largest position. Outfitter Financial LLC’s holdings in Intuit were worth $1,921,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in INTU. Copia Wealth Management bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. Summit Securities Group LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. VSM Wealth Advisory LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Intuit during the first quarter valued at approximately $37,000. 83.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on INTU shares. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $850.00 target price (up from $760.00) on shares of Intuit in a report on Friday, May 23rd. CLSA assumed coverage on Intuit in a report on Thursday, June 26th. They issued an “outperform” rating and a $900.00 target price on the stock. Scotiabank raised Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $600.00 to $700.00 in a report on Thursday, April 17th. Finally, Jefferies Financial Group set a $850.00 target price on Intuit and gave the stock a “buy” rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $800.55.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of the business’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total value of $887,663.30. Following the completion of the transaction, the executive vice president owned 19 shares of the company’s stock, valued at $14,704.10. The trade was a 98.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 2,591 shares of the company’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $782.22, for a total value of $2,026,732.02. Following the completion of the transaction, the chief financial officer directly owned 768 shares of the company’s stock, valued at $600,744.96. The trade was a 77.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock worth $209,725,054 in the last quarter. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ INTU traded up $0.55 during mid-day trading on Friday, reaching $755.92. The company’s stock had a trading volume of 255,452 shares, compared to its average volume of 1,618,645. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a fifty day moving average of $742.02 and a two-hundred day moving average of $649.76. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $790.60. The firm has a market capitalization of $210.86 billion, a PE ratio of 61.31, a P/E/G ratio of 3.33 and a beta of 1.27.

Intuit (NASDAQ:INTU) last issued its quarterly 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 firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $9.88 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders 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 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio is currently 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.