AGH Wealth Advisors LLC Cuts Position in Intuit Inc. (NASDAQ:INTU)

AGH Wealth Advisors LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 550 shares of the software maker’s stock after selling 49 shares during the period. AGH Wealth Advisors LLC’s holdings in Intuit were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in Intuit during the 4th quarter worth $2,290,419,000. GAMMA Investing LLC lifted its stake in shares of Intuit by 69,701.9% during the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock worth $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock valued at $1,930,765,000 after buying an additional 771,232 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

Intuit stock opened at $766.64 on Friday. 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 12 month low of $532.65 and a 12 month high of $773.45. The company has a fifty day moving average price of $643.09 and a two-hundred day moving average price of $625.50. The company has a market cap of $213.85 billion, a PE ratio of 74.43, a P/E/G ratio of 2.85 and a beta of 1.24.

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 business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the previous year, the business posted $9.88 EPS. The company’s quarterly revenue was up 15.1% on a year-over-year basis. Research analysts expect that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors 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 0.54%. Intuit’s dividend payout ratio is currently 33.77%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Alex G. Balazs sold 1,459 shares of Intuit stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Insiders sold 225,592 shares of company stock worth $165,325,437 in the last 90 days. 2.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on INTU. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research report on Wednesday, April 23rd. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. Susquehanna reaffirmed a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Barclays reiterated an “overweight” rating and issued a $815.00 price objective (up previously from $775.00) on shares of Intuit in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently 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.