Intuit Inc. (NASDAQ:INTU) Stock Holdings Trimmed by Corundum Group Inc.

Corundum Group Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 477 shares of the software maker’s stock after selling 34 shares during the quarter. Corundum Group Inc.’s holdings in Intuit were worth $310,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC bought a new position in Intuit during the first quarter worth $249,000. RFG Holdings Inc. acquired a new position in Intuit during the 1st quarter valued at approximately $361,000. Aspiriant LLC grew its stake in Intuit by 11.6% during the 1st quarter. Aspiriant LLC now owns 404 shares of the software maker’s stock worth $263,000 after buying an additional 42 shares during the last quarter. Brookstone Capital Management raised its holdings in shares of Intuit by 4.7% during the first quarter. Brookstone Capital Management now owns 2,141 shares of the software maker’s stock valued at $1,392,000 after buying an additional 97 shares during the last quarter. Finally, RMR Wealth Builders boosted its position in shares of Intuit by 11.6% during the first quarter. RMR Wealth Builders now owns 2,236 shares of the software maker’s stock worth $1,453,000 after buying an additional 232 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the business’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 sale, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $855,480.70. Following the transaction, the chief financial officer now 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 is available at this link. Also, EVP Mark P. Notarainni sold 465 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 transaction of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock valued at $113,123,232 over the last 90 days. 2.90% of the stock is owned by company insiders.

Intuit Price Performance

NASDAQ INTU traded up $3.64 on Thursday, reaching $641.12. The company’s stock had a trading volume of 41,645 shares, compared to its average volume of 1,336,150. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market cap of $179.23 billion, a PE ratio of 58.81, a price-to-earnings-growth ratio of 3.61 and a beta of 1.21. Intuit Inc. has a 52 week low of $444.19 and a 52 week high of $676.62. The business has a 50-day moving average price of $616.23 and a 200 day moving average price of $627.19.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The company had revenue of $6.74 billion for 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%. Intuit’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $7.80 earnings per share. Sell-side analysts expect that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.56%. Intuit’s payout ratio is currently 33.21%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group increased their price target on Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research note on Monday, May 20th. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. KeyCorp raised their price objective on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Stifel Nicolaus cut their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Morgan Stanley increased 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. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.