Kathmere Capital Management LLC Acquires 55 Shares of Intuit Inc. (NASDAQ:INTU)

Kathmere Capital Management LLC raised its holdings in Intuit Inc. (NASDAQ:INTU) by 16.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398 shares of the software maker’s stock after buying an additional 55 shares during the quarter. Kathmere Capital Management LLC’s holdings in Intuit were worth $259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Desjardins Global Asset Management Inc. increased its holdings in Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock valued at $738,000 after buying an additional 16 shares during the period. JFS Wealth Advisors LLC boosted its stake in shares of Intuit by 1.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,564 shares of the software maker’s stock valued at $978,000 after purchasing an additional 16 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Intuit by 3.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 449 shares of the software maker’s stock valued at $281,000 after purchasing an additional 16 shares in the last quarter. GAM Holding AG boosted its stake in shares of Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock valued at $3,671,000 after purchasing an additional 17 shares in the last quarter. Finally, Janiczek Wealth Management LLC boosted its stake in shares of Intuit by 2.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the sale, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s 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 sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INTU shares. Citigroup boosted their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley upped their price target on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Susquehanna reduced their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research report on Friday, May 24th. Stifel Nicolaus reduced their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Finally, Wells Fargo & Company upped their price target on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $683.91.

Intuit Price Performance

Shares of INTU opened at $657.21 on Friday. The stock has a market capitalization of $183.72 billion, a P/E ratio of 60.63, a P/E/G ratio of 3.73 and a beta of 1.21. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62. The company has a 50 day moving average of $618.61 and a 200-day moving average of $627.92. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last issued its quarterly 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 company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business earned $7.80 EPS. As a group, equities research analysts forecast that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

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

About Intuit

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.