Congress Wealth Management LLC DE Acquires 252 Shares of Intuit Inc. (NASDAQ:INTU)

Congress Wealth Management LLC DE grew its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,636 shares of the software maker’s stock after buying an additional 252 shares during the period. Congress Wealth Management LLC DE’s holdings in Intuit were worth $17,964,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its holdings in shares of Intuit by 10.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 235 shares of the software maker’s stock worth $153,000 after purchasing an additional 22 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Intuit by 2.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 3,516 shares of the software maker’s stock worth $2,285,000 after purchasing an additional 78 shares in the last quarter. MGO Private Wealth LLC bought a new position in shares of Intuit in the 1st quarter worth $209,000. Diversified Trust Co lifted its holdings in shares of Intuit by 1.4% in the 1st quarter. Diversified Trust Co now owns 3,149 shares of the software maker’s stock worth $2,047,000 after purchasing an additional 44 shares in the last quarter. Finally, Chapin Davis Inc. lifted its holdings in shares of Intuit by 14.2% in the 1st quarter. Chapin Davis Inc. now owns 1,084 shares of the software maker’s stock worth $705,000 after purchasing an additional 135 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Sandeep Aujla sold 1,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 14,748 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total transaction of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. Corporate insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp increased their target price on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Morgan Stanley increased their price target on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Citigroup increased their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday. Finally, Erste Group Bank reissued a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $683.91.

Intuit Stock Performance

Shares of INTU traded down $6.44 during trading hours on Monday, hitting $650.77. The company’s stock had a trading volume of 1,194,946 shares, compared to its average volume of 1,349,852. The company has a market cap of $181.92 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 3.76 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50. The business has a 50 day simple moving average of $618.61 and a two-hundred day simple moving average of $628.28. Intuit Inc. has a 52-week low of $444.19 and a 52-week high of $676.62.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate of $8.12 by $1.76. The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $7.80 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.55%. Intuit’s dividend payout ratio is currently 33.21%.

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.