Ballentine Partners LLC Has $2.19 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Ballentine Partners LLC increased its position in Intuit Inc. (NASDAQ:INTU) by 20.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,369 shares of the software maker’s stock after purchasing an additional 567 shares during the quarter. Ballentine Partners LLC’s holdings in Intuit were worth $2,190,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. DiNuzzo Private Wealth Inc. acquired a new stake in Intuit in the fourth quarter worth about $25,000. MCF Advisors LLC boosted its holdings in Intuit by 119.0% during the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after buying an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Intuit during the fourth quarter worth about $38,000. Sachetta LLC bought a new position in Intuit during the fourth quarter worth about $39,000. Finally, Webster Bank N. A. bought a new position in Intuit during the fourth quarter worth about $41,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 1.2 %

Shares of NASDAQ:INTU traded down $7.81 during trading on Monday, hitting $624.34. 114,333 shares of the company were exchanged, compared to its average volume of 1,336,430. The stock has a market cap of $174.53 billion, a price-to-earnings ratio of 58.32, a P/E/G ratio of 3.52 and a beta of 1.21. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62. The firm has a fifty day moving average price of $615.61 and a two-hundred day moving average price of $626.42. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32.

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 analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion for the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $7.80 EPS. As a group, research analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is presently 33.21%.

Insider Buying and Selling

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 stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the company’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 $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTU. Susquehanna reduced their target price on Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Morgan Stanley lifted their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a report on Friday, June 14th. Finally, KeyCorp lifted their price objective on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $679.41.

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.