MV Capital Management Inc. Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

MV Capital Management Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,229 shares of the software maker’s stock after selling 162 shares during the quarter. MV Capital Management Inc.’s holdings in Intuit were worth $2,597,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Copia Wealth Management purchased a new position in Intuit in the 4th quarter worth about $25,000. NewSquare Capital LLC lifted its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Summit Securities Group LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Heck Capital Advisors LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $28,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Intuit in the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares of the company’s stock, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is owned by company insiders.

Intuit Price Performance

INTU stock opened at $762.10 on Wednesday. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45. The company’s fifty day moving average price is $652.38 and its 200-day moving average price is $627.65. 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 company has a market capitalization of $212.59 billion, a PE ratio of 73.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.88 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INTU. Citigroup reissued a “buy” rating and issued a $789.00 price objective (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer reissued an “outperform” rating and issued a $742.00 price objective (up previously from $642.00) on shares of Intuit in a report on Friday, May 23rd. Susquehanna reissued a “positive” rating on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $785.33.

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.