Trivant Custom Portfolio Group LLC Sells 7,322 Shares of Intuit Inc. (NASDAQ:INTU)

Trivant Custom Portfolio Group LLC decreased its stake in Intuit Inc. (NASDAQ:INTU) by 86.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,125 shares of the software maker’s stock after selling 7,322 shares during the period. Trivant Custom Portfolio Group LLC’s holdings in Intuit were worth $731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Kathmere Capital Management LLC increased its position in Intuit by 16.0% in the 1st quarter. Kathmere Capital Management LLC now owns 398 shares of the software maker’s stock valued at $259,000 after acquiring an additional 55 shares during the period. Harbour Capital Advisors LLC increased its position in Intuit by 0.6% in the 1st quarter. Harbour Capital Advisors LLC now owns 8,776 shares of the software maker’s stock valued at $5,499,000 after acquiring an additional 55 shares during the period. Transform Wealth LLC increased its position in Intuit by 7.5% in the 1st quarter. Transform Wealth LLC now owns 812 shares of the software maker’s stock valued at $528,000 after acquiring an additional 57 shares during the period. Scharf Investments LLC increased its position in Intuit by 6.0% in the 1st quarter. Scharf Investments LLC now owns 4,915 shares of the software maker’s stock valued at $3,195,000 after acquiring an additional 280 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Intuit by 13.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,268 shares of the software maker’s stock worth $17,724,000 after buying an additional 3,266 shares during the period. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of research reports. UBS Group raised their price target on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. KeyCorp raised their price target on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Citigroup raised their price objective on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. Finally, Wells Fargo & Company raised their price objective on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $683.91.

Intuit Price Performance

Intuit stock traded up $5.77 during mid-day trading on Friday, hitting $657.21. 1,753,982 shares of the company traded hands, compared to its average volume of 1,628,761. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The stock has a market cap of $183.72 billion, a price-to-earnings ratio of 60.63, a price-to-earnings-growth ratio of 3.73 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The stock has a fifty day moving average price of $618.61 and a 200-day moving average price of $628.16.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data 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. The firm 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 business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $7.80 EPS. On average, equities analysts predict that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio is currently 33.21%.

Insider Activity at Intuit

In related 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 transaction of $44,838,750.00. Following the completion of the sale, the insider now directly owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s 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 transaction, the insider now directly 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 SEC, which can be accessed through the SEC website. Also, CFO Sandeep Aujla sold 1,415 shares of the business’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 $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The disclosure for this sale can be found here. Insiders sold 193,937 shares of company stock worth $113,123,232 in the last three months. 2.90% of the stock is owned by insiders.

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.