Davidson Capital Management Inc. Sells 451 Shares of Intuit Inc. (NASDAQ:INTU)

Davidson Capital Management Inc. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 8.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,920 shares of the software maker’s stock after selling 451 shares during the quarter. Intuit accounts for approximately 0.8% of Davidson Capital Management Inc.’s investment portfolio, making the stock its 23rd biggest position. Davidson Capital Management Inc.’s holdings in Intuit were worth $3,021,000 as of its most recent SEC filing.

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

Insider Activity

In related news, insider Scott D. Cook sold 72,442 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the sale, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. This trade represents a 15.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 286,706 shares of company stock worth $212,420,665. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INTU shares. Wells Fargo & Company set a $880.00 price target on Intuit and gave the company an “overweight” rating in a report on Friday, June 13th. HSBC raised Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective on the stock in a research report on Wednesday, April 23rd. Scotiabank raised shares of Intuit from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $600.00 to $700.00 in a research note on Thursday, April 17th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $850.00 target price (up previously from $760.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Jefferies Financial Group set a $850.00 price target on Intuit and gave the company a “buy” rating in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit has an average rating of “Moderate Buy” and a consensus target price of $787.95.

Intuit Trading Down 1.3%

INTU stock opened at $754.83 on Thursday. The company has a market capitalization of $210.56 billion, a PE ratio of 61.27, a P/E/G ratio of 3.40 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The firm’s 50-day moving average is $675.86 and its 200 day moving average is $632.87.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The business 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 business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $9.88 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The firm also recently announced 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. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.77%.

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.