RFG Advisory LLC Sells 41 Shares of Intuit Inc. (NASDAQ:INTU)

RFG Advisory LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 1.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,924 shares of the software maker’s stock after selling 41 shares during the quarter. RFG Advisory LLC’s holdings in Intuit were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Brown Advisory Inc. lifted its position in Intuit by 2.3% during the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after buying an additional 80,517 shares during the period. Norges Bank purchased a new stake in Intuit in the fourth quarter worth about $2,101,848,000. Finally, Fisher Asset Management LLC raised its stake in Intuit by 9.5% during the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock valued at $1,946,954,000 after buying an additional 270,432 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In other news, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the transaction, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 2,332 shares in the company, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. In the last three months, insiders sold 195,963 shares of company stock worth $114,442,445. 2.90% of the stock is owned by company insiders.

Intuit Price Performance

INTU stock traded down $3.16 during trading on Monday, hitting $627.04. The company had a trading volume of 428,895 shares, compared to its average volume of 1,322,836. The company has a market cap of $175.29 billion, a P/E ratio of 57.93, a P/E/G ratio of 3.14 and a beta of 1.23. The company has a fifty day moving average price of $624.76 and a two-hundred day moving average price of $633.70. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. 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 quarterly earnings data 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 analyst estimates of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $7.80 earnings per share. Equities research analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio is presently 33.21%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Morgan Stanley lifted their target price on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Stifel Nicolaus lowered their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Wells Fargo & Company lifted their target price on Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Four 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, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $694.27.

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.