Trivant Custom Portfolio Group LLC Has $424,000 Position in Intuit Inc. (NASDAQ:INTU)

Trivant Custom Portfolio Group LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 37.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 690 shares of the software maker’s stock after selling 415 shares during the quarter. Trivant Custom Portfolio Group LLC’s holdings in Intuit were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of INTU. Copia Wealth Management acquired a new position in shares of Intuit in the 4th quarter valued at $25,000. NewSquare Capital LLC increased its holdings in Intuit by 72.0% in 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 acquired a new position in Intuit in the fourth quarter valued at about $28,000. Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth about $28,000. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Intuit in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $754.83 on Thursday. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $773.45. The company’s fifty day simple moving average is $675.86 and its 200-day simple moving average is $632.87. The firm has a market cap 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 quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the prior year, the business posted $9.88 EPS. Equities research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business 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. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.77%.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on 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 sale, the insider now owns 6,063,495 shares in the company, 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 legal filing with the SEC, 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 transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $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 90 days, insiders sold 286,706 shares of company stock valued at $212,420,665. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays reissued an “overweight” rating and set a $815.00 price objective (up previously from $775.00) on shares of Intuit in a research note on Friday, May 23rd. Citigroup reissued a “buy” rating and issued a $789.00 price target (up previously from $726.00) on shares of Intuit in a report on Friday, May 23rd. Stifel Nicolaus raised their price objective on Intuit from $725.00 to $850.00 and gave the stock a “buy” rating in a research note on Friday, May 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 research note on Friday, May 23rd. Finally, Hsbc Global Res raised Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $787.95.

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.