Prosperity Consulting Group LLC Buys 191 Shares of Intuit Inc. (NASDAQ:INTU)

Prosperity Consulting Group LLC increased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 29.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 829 shares of the software maker’s stock after buying an additional 191 shares during the period. Prosperity Consulting Group LLC’s holdings in Intuit were worth $539,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of INTU. DiNuzzo Private Wealth Inc. bought a new stake in shares of Intuit during the 4th quarter worth about $25,000. West Branch Capital LLC boosted its holdings in shares of Intuit by 79.2% during the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock worth $28,000 after buying an additional 19 shares during the period. MCF Advisors LLC boosted its holdings in shares of Intuit by 119.0% during the 4th 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 period. Wetzel Investment Advisors Inc. bought a new stake in shares of Intuit during the 4th quarter worth about $38,000. Finally, Sachetta LLC bought a new stake in shares of Intuit during the 4th quarter worth about $39,000. Institutional investors own 83.66% of the company’s stock.

Intuit Price Performance

INTU stock traded up $8.85 during trading on Friday, reaching $668.75. 1,517,071 shares of the company were exchanged, compared to its average volume of 1,424,375. The company has a 50-day moving average of $621.74 and a two-hundred day moving average of $629.75. The company has a market capitalization of $186.95 billion, a price-to-earnings ratio of 61.69, a P/E/G ratio of 3.77 and a beta of 1.23. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

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. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same period in the previous year, the firm posted $7.80 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts predict 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. Shareholders 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 0.54%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Insiders Place Their Bets

In other Intuit news, EVP Mark P. Notarainni sold 965 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the sale, the executive vice president now directly owns 1,020 shares of the company’s stock, valued at approximately $664,020. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark P. Notarainni sold 965 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $651.00, for a total transaction of $628,215.00. Following the completion of the sale, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Insiders have sold 195,963 shares of company stock valued at $114,442,445 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Wells Fargo & Company lifted their price objective on shares of Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. Royal Bank of Canada assumed coverage on shares of Intuit in a research note on Wednesday. They issued an “outperform” rating and a $760.00 price objective for the company. Morgan Stanley lifted their price objective on shares of Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a research note on Thursday, June 13th. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $687.22.

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.