Monumental Financial Group Inc. Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

Monumental Financial Group Inc. lessened its position in Intuit Inc. (NASDAQ:INTU) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,571 shares of the software maker’s stock after selling 71 shares during the quarter. Intuit makes up 1.0% of Monumental Financial Group Inc.’s investment portfolio, making the stock its 17th largest holding. Monumental Financial Group Inc.’s holdings in Intuit were worth $1,607,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INTU. Strategic Blueprint LLC purchased a new stake in Intuit during the 3rd quarter worth about $221,000. Walkner Condon Financial Advisors LLC increased its holdings in Intuit by 6.0% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 514 shares of the software maker’s stock worth $262,000 after purchasing an additional 29 shares during the period. Valeo Financial Advisors LLC increased its holdings in Intuit by 7.9% during the 3rd quarter. Valeo Financial Advisors LLC now owns 2,005 shares of the software maker’s stock worth $1,025,000 after purchasing an additional 147 shares during the period. Outfitter Financial LLC increased its holdings in Intuit by 0.5% during the 3rd quarter. Outfitter Financial LLC now owns 3,987 shares of the software maker’s stock worth $2,037,000 after purchasing an additional 21 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its holdings in Intuit by 6.2% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 5,567 shares of the software maker’s stock worth $2,844,000 after purchasing an additional 325 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

INTU traded up $10.16 during trading on Friday, reaching $636.55. 1,192,496 shares of the company were exchanged, compared to its average volume of 1,208,945. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. The stock has a market cap of $178.23 billion, a P/E ratio of 64.95, a PEG ratio of 3.88 and a beta of 1.21. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The firm has a 50 day moving average of $640.26 and a 200 day moving average of $603.61.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the firm earned $1.05 EPS. The firm’s revenue was up 11.3% compared to the same quarter last year. On average, sell-side analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio is presently 36.73%.

Analyst Ratings Changes

Several brokerages have weighed in on INTU. Barclays upped their price target on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 price objective on shares of Intuit in a report on Tuesday, March 26th. Oppenheimer increased their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company increased their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Finally, Evercore ISI increased their price objective on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $650.23.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock valued at $3,117,156. Company insiders own 2.90% of the company’s stock.

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.