Intuit Inc. (NASDAQ:INTU) Shares Bought by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. lifted its stake in Intuit Inc. (NASDAQ:INTU) by 3.1% in the first quarter, HoldingsChannel reports. The fund owned 670 shares of the software maker’s stock after purchasing an additional 20 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in Intuit were worth $436,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the 4th quarter worth approximately $25,000. West Branch Capital LLC lifted its stake in Intuit by 79.2% during the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. MCF Advisors LLC lifted its stake in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in Intuit during the fourth quarter valued at approximately $38,000. Finally, Sachetta LLC acquired a new stake in Intuit during the fourth quarter valued at approximately $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Wells Fargo & Company boosted their price target on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. KeyCorp boosted their price target on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a research note on Thursday, June 13th. Finally, Royal Bank of Canada initiated coverage on shares of Intuit in a research note on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $694.27.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 465 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The disclosure for this sale can be found here. Insiders sold a total of 195,963 shares of company stock valued at $114,442,445 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $0.56 during trading hours on Tuesday, hitting $635.80. 1,062,847 shares of the stock were exchanged, compared to its average volume of 1,328,739. 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 company’s 50 day moving average is $622.64 and its 200 day moving average is $633.43. The firm has a market capitalization of $177.74 billion, a P/E ratio of 58.65, a P/E/G ratio of 3.62 and a beta of 1.23. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62.

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

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 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.