Financial Management Professionals Inc. Has $60,000 Holdings in Intuit Inc. (NASDAQ:INTU)

Financial Management Professionals Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 34.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92 shares of the software maker’s stock after selling 49 shares during the period. Financial Management Professionals Inc.’s holdings in Intuit were worth $60,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTU. DiNuzzo Private Wealth Inc. bought a new stake in Intuit in the 4th quarter worth about $25,000. MCF Advisors LLC grew its position in Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after purchasing an additional 25 shares in the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Intuit in the 4th quarter worth about $38,000. Sachetta LLC bought a new stake in Intuit in the 4th quarter worth about $39,000. Finally, Webster Bank N. A. bought a new stake in Intuit in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $657.21 on Friday. The stock has a market capitalization of $183.72 billion, a P/E ratio of 60.63, a PEG ratio of 3.73 and a beta of 1.21. 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’s 50 day moving average is $618.61 and its 200 day moving average is $627.92. Intuit Inc. has a 12 month low of $444.19 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the prior year, the company posted $7.80 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 0.55%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reduced their price objective 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. KeyCorp upped their price objective on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research report on Monday, May 20th. Jefferies Financial Group reissued a “buy” rating and set a $770.00 target price on shares of Intuit in a research report on Thursday, June 13th. BMO Capital Markets reissued an “outperform” rating and set a $700.00 target price on shares of Intuit in a research report on Tuesday, March 26th. Finally, 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 report on Friday. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus target price of $683.91.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 27,309 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total value of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Scott D. Cook sold 27,309 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the sale, the insider now owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the firm’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 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. Insiders have sold 193,937 shares of company stock worth $113,123,232 in the last three months. 2.90% of the stock is currently owned by corporate insiders.

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.