Intuit Inc. (NASDAQ:INTU) Shares Sold by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 5.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,573 shares of the software maker’s stock after selling 94 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Intuit were worth $1,034,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INTU. Aveo Capital Partners LLC acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $203,000. 9258 Wealth Management LLC boosted its position in Intuit by 29.0% during the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock worth $406,000 after acquiring an additional 146 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in Intuit by 11.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 650 shares of the software maker’s stock worth $406,000 after acquiring an additional 65 shares during the last quarter. TCG Advisory Services LLC acquired a new stake in Intuit during the fourth quarter worth approximately $216,000. Finally, Spire Wealth Management boosted its position in Intuit by 25.0% during the fourth quarter. Spire Wealth Management now owns 3,055 shares of the software maker’s stock worth $1,901,000 after acquiring an additional 611 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Intuit stock opened at $630.26 on Tuesday. Intuit Inc. has a 12-month low of $473.56 and a 12-month high of $676.62. The company has a market capitalization of $176.19 billion, a price-to-earnings ratio of 58.14, a price-to-earnings-growth ratio of 3.08 and a beta of 1.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.50. The firm’s fifty day moving average price is $640.26 and its 200 day moving average price is $633.08.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 EPS. On average, research analysts forecast that Intuit Inc. will post 14.06 EPS for the current fiscal year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.66%. Intuit’s payout ratio is 38.38%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INTU. Susquehanna restated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Stifel Nicolaus lifted their price target on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Barclays decreased their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Royal Bank of Canada assumed coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price target on the stock. Finally, Bank of America lifted their price target on shares of Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $716.35.

Insider Activity

In other news, CFO Sandeep Aujla sold 1,061 shares of Intuit stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $567.75, for a total transaction of $42,581,250.00. Following the completion of the transaction, the insider now directly owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $651.27, for a total transaction of $690,997.47. Following the transaction, the chief financial officer now directly owns 3,333 shares of the company’s stock, valued at $2,170,682.91. The disclosure for this sale can be found here. In the last three months, insiders sold 104,367 shares of company stock valued at $60,118,991. Company insiders own 2.90% of the company’s stock.

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.