SeaCrest Wealth Management LLC Sells 31 Shares of Intuit Inc. (NASDAQ:INTU)

SeaCrest Wealth Management LLC trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 4.1% during the first quarter, Holdings Channel reports. The fund owned 720 shares of the software maker’s stock after selling 31 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Intuit were worth $442,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after acquiring an additional 353,185 shares in the last quarter. Geode Capital Management LLC increased its position in Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker’s stock worth $3,833,720,000 after buying an additional 132,384 shares during the period. Wellington Management Group LLP increased its position in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares during the period. Norges Bank bought a new position in Intuit in the 4th quarter worth approximately $2,290,419,000. Finally, Northern Trust Corp increased its position in Intuit by 17.3% in the 4th quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker’s stock worth $2,118,682,000 after buying an additional 498,030 shares during the period. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $771.58 on Friday. The business’s 50 day moving average is $646.24 and its 200-day moving average is $626.21. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $215.23 billion, a PE ratio of 74.91, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $773.45.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.88 EPS. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is 33.77%.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total value of $1,124,597.20. The disclosure for this sale can be found here. Insiders have sold a total of 225,592 shares of company stock valued at $165,325,437 in the last 90 days. 2.68% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on INTU shares. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $825.00 price target (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Oppenheimer reaffirmed an “outperform” rating and issued a $742.00 price target (up from $642.00) on shares of Intuit in a research report on Friday, May 23rd. Wall Street Zen raised Intuit from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. KeyCorp reaffirmed an “overweight” rating and issued a $850.00 price target (up from $770.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $820.00 price target (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

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.