Intuit Inc. (NASDAQ:INTU) Position Increased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,408 shares of the software maker’s stock after acquiring an additional 837 shares during the period. Sequoia Financial Advisors LLC’s holdings in Intuit were worth $8,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of INTU. DiNuzzo Private Wealth Inc. acquired a new position in Intuit during the fourth quarter worth $25,000. West Branch Capital LLC grew its position in shares of Intuit by 79.2% in the first quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after purchasing an additional 19 shares during the last quarter. MCF Advisors LLC grew its position in shares of Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new stake in shares of Intuit in the fourth quarter valued at about $38,000. Finally, Sachetta LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $39,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

INTU traded up $14.35 on Tuesday, reaching $641.76. The company had a trading volume of 318,686 shares, compared to its average volume of 1,317,764. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The stock has a market cap of $179.40 billion, a P/E ratio of 57.88, a P/E/G ratio of 3.14 and a beta of 1.23. The company’s fifty day moving average is $625.96 and its 200 day moving average is $633.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50.

Intuit (NASDAQ:INTU) last announced 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 business had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter last year, the firm earned $7.80 earnings per share. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s payout ratio is 33.21%.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of the 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 transaction, the insider now 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 Securities & Exchange Commission, which is available through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were 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 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 Securities & Exchange Commission, which is available at this link. Also, EVP Mark P. Notarainni sold 465 shares of the firm’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 $281,129.70. Following the completion of the sale, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The disclosure for this sale can be found here. Insiders have sold a total of 195,963 shares of company stock valued at $114,442,445 over the last quarter. Company insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley increased their target price on shares of Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Citigroup increased their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Stifel Nicolaus reduced their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Susquehanna cut their price target on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Finally, StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price 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.