Intuit Inc. (NASDAQ:INTU) Stock Position Decreased by Vigilare Wealth Management

Vigilare Wealth Management cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 547 shares of the software maker’s stock after selling 55 shares during the period. Vigilare Wealth Management’s holdings in Intuit were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTU. HHM Wealth Advisors LLC purchased a new stake in shares of Intuit during the 1st quarter worth about $25,000. Raleigh Capital Management Inc. increased its holdings in shares of Intuit by 100.0% during the 1st quarter. Raleigh Capital Management Inc. now owns 58 shares of the software maker’s stock valued at $26,000 after acquiring an additional 29 shares during the last quarter. Activest Wealth Management acquired a new position in shares of Intuit during the 1st quarter valued at about $27,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Intuit during the 1st quarter valued at about $29,000. Finally, Barrett & Company Inc. acquired a new position in shares of Intuit during the 1st quarter valued at about $29,000. 82.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intuit

In related news, EVP Marianna Tessel sold 8,702 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $552.63, for a total transaction of $4,808,986.26. Following the completion of the transaction, the executive vice president now directly owns 32,171 shares in the company, valued at $17,778,659.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Laura A. Fennell sold 53,741 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $450.96, for a total transaction of $24,235,041.36. Following the completion of the transaction, the executive vice president now directly owns 39,896 shares of the company’s stock, valued at $17,991,500.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Marianna Tessel sold 8,702 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $552.63, for a total value of $4,808,986.26. Following the transaction, the executive vice president now directly owns 32,171 shares of the company’s stock, valued at $17,778,659.73. The disclosure for this sale can be found here. Insiders sold a total of 90,927 shares of company stock worth $44,218,147 over the last 90 days. 3.18% of the stock is owned by insiders.

Intuit Price Performance

INTU traded down $9.52 during trading on Friday, hitting $538.08. The company’s stock had a trading volume of 2,445,493 shares, compared to its average volume of 1,617,931. The firm’s 50 day moving average price is $509.54 and its two-hundred day moving average price is $459.92. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.35. Intuit Inc. has a 12 month low of $352.63 and a 12 month high of $558.64. The stock has a market capitalization of $150.82 billion, a price-to-earnings ratio of 63.75, a price-to-earnings-growth ratio of 3.29 and a beta of 1.19.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 24th. The software maker reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.22. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.64 billion. Intuit had a return on equity of 16.61% and a net margin of 16.59%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS. Sell-side analysts forecast that Intuit Inc. will post 11.25 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 17th. Stockholders of record on Monday, October 9th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.67%. This is an increase from Intuit’s previous quarterly dividend of $0.78. Intuit’s payout ratio is presently 36.97%.

Analysts Set New Price Targets

A number of research analysts have recently commented on INTU shares. StockNews.com started coverage on Intuit in a report on Thursday, August 17th. They set a “buy” rating on the stock. Argus raised their target price on Intuit from $580.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Evercore ISI raised their target price on Intuit from $505.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Oppenheimer raised their target price on Intuit from $476.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, August 25th. Finally, Mizuho raised their target price on Intuit from $550.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, September 7th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and an average price target of $551.73.

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.