Intuit Inc. (NASDAQ:INTU) Stock Holdings Lifted by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its position in Intuit Inc. (NASDAQ:INTU) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,408 shares of the software maker’s stock after purchasing an additional 837 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Intuit were worth $8,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Graypoint LLC boosted its stake in shares of Intuit by 18.8% during the 4th quarter. Graypoint LLC now owns 2,014 shares of the software maker’s stock worth $1,259,000 after acquiring an additional 319 shares in the last quarter. Simplicity Solutions LLC boosted its stake in shares of Intuit by 9.0% during the 4th quarter. Simplicity Solutions LLC now owns 5,138 shares of the software maker’s stock worth $3,212,000 after acquiring an additional 423 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in shares of Intuit by 2.3% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,901 shares of the software maker’s stock worth $1,188,000 after purchasing an additional 43 shares during the last quarter. MV Capital Management Inc. lifted its position in shares of Intuit by 0.7% during the 4th quarter. MV Capital Management Inc. now owns 5,841 shares of the software maker’s stock worth $3,651,000 after purchasing an additional 38 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Intuit during the 4th quarter worth about $24,439,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 2.3 %

Intuit stock traded up $14.35 during mid-day trading on Tuesday, hitting $641.76. 318,686 shares of the company’s stock were exchanged, compared to its average volume of 1,317,764. The firm has a market capitalization of $179.40 billion, a P/E ratio of 57.88, a PEG ratio of 3.14 and a beta of 1.23. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The company’s 50 day simple moving average is $625.96 and its 200-day simple moving average is $633.60.

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

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s payout ratio is currently 33.21%.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a report on Friday, June 14th. Wells Fargo & Company upped their price target on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Bank of America cut their price target on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Royal Bank of Canada assumed coverage on Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target for the company. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $694.27.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the transaction, the chief financial officer now owns 3,333 shares in the company, valued at $2,170,682.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total transaction of $628,215.00. Following the sale, the executive vice president now owns 1,020 shares of the company’s stock, valued at $664,020. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,963 shares of company stock worth $114,442,445. Company insiders own 2.90% of the company’s stock.

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.