Valeo Financial Advisors LLC Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Valeo Financial Advisors LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,297 shares of the software maker’s stock after selling 76 shares during the period. Valeo Financial Advisors LLC’s holdings in Intuit were worth $1,493,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sivia Capital Partners LLC boosted its position in Intuit by 8.5% in the first quarter. Sivia Capital Partners LLC now owns 577 shares of the software maker’s stock worth $375,000 after purchasing an additional 45 shares during the last quarter. SeaCrest Wealth Management LLC boosted its position in Intuit by 18.5% in the first quarter. SeaCrest Wealth Management LLC now owns 616 shares of the software maker’s stock worth $400,000 after purchasing an additional 96 shares during the last quarter. Naviter Wealth LLC raised its stake in shares of Intuit by 20.1% in the first quarter. Naviter Wealth LLC now owns 2,506 shares of the software maker’s stock worth $1,629,000 after buying an additional 419 shares during the period. Capital Advisors Ltd. LLC raised its stake in shares of Intuit by 2.6% in the first quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock worth $429,000 after buying an additional 17 shares during the period. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of Intuit in the first quarter worth about $229,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on 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 completion of the sale, 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 filing with the SEC, which is available at the SEC website. In other news, CFO Sandeep Aujla sold 1,061 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was 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 filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the business’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 completion of 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 worth $114,442,445 in the last quarter. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. KeyCorp raised their price objective on Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. UBS Group raised their price objective on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. Wells Fargo & Company raised their price objective on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Morgan Stanley raised their price objective on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

Intuit Price Performance

Shares of Intuit stock opened at $659.90 on Thursday. The stock has a market cap of $184.47 billion, a price-to-earnings ratio of 60.88, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a 50 day moving average price of $619.94 and a 200-day moving average price of $628.97. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the previous year, the business earned $7.80 EPS. The company’s quarterly revenue was up 11.9% on a year-over-year basis. Equities analysts expect that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The firm also recently disclosed 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 yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s payout ratio is currently 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.