Atomi Financial Group Inc. Grows Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Atomi Financial Group Inc. raised its stake in Intuit Inc. (NASDAQ:INTU) by 16.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,651 shares of the software maker’s stock after buying an additional 238 shares during the period. Atomi Financial Group Inc.’s holdings in Intuit were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Montag A & Associates Inc. raised its holdings in shares of Intuit by 0.8% in the 1st quarter. Montag A & Associates Inc. now owns 19,630 shares of the software maker’s stock valued at $12,760,000 after purchasing an additional 159 shares in the last quarter. Retirement Solution Inc. bought a new position in shares of Intuit during the 1st quarter worth approximately $205,000. KCM Investment Advisors LLC grew its position in Intuit by 9.0% during the 1st quarter. KCM Investment Advisors LLC now owns 716 shares of the software maker’s stock worth $465,000 after purchasing an additional 59 shares during the last quarter. NTV Asset Management LLC purchased a new stake in Intuit during the 1st quarter worth approximately $224,000. Finally, Forsta AP Fonden grew its position in Intuit by 8.9% during the 1st quarter. Forsta AP Fonden now owns 81,700 shares of the software maker’s stock worth $53,105,000 after purchasing an additional 6,700 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of NASDAQ INTU traded up $13.78 during mid-day trading on Monday, reaching $655.73. The company’s stock had a trading volume of 434,076 shares, compared to its average volume of 1,333,393. The stock has a 50-day moving average of $623.58 and a two-hundred day moving average of $630.55. The stock has a market capitalization of $183.31 billion, a P/E ratio of 60.39, a P/E/G ratio of 3.67 and a beta of 1.23. 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 Inc. has a 1-year low of $473.56 and a 1-year high of $676.62.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. The business had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $7.80 earnings per share. On average, equities research analysts anticipate that Intuit Inc. will post 11.72 EPS for the current fiscal year.

Intuit Announces Dividend

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

Insider Activity at Intuit

In related news, EVP Mark P. Notarainni sold 465 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value 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 $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark P. Notarainni sold 465 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 transaction of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at approximately $525,380.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada assumed coverage on shares of Intuit in a report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective on the stock. UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a report on Monday, May 20th. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Monday, May 27th. Finally, Citigroup increased their price target on shares of Intuit from $727.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $687.22.

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.