Intuit Inc. (NASDAQ:INTU) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 26.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,571 shares of the software maker’s stock after selling 4,152 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Intuit were worth $7,521,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Intuit by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock worth $12,942,784,000 after purchasing an additional 117,478 shares in the last quarter. Morgan Stanley boosted its holdings in Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock worth $1,966,304,000 after acquiring an additional 137,198 shares during the period. Wellington Management Group LLP boosted its holdings in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the period. Brown Advisory Inc. boosted its holdings in Intuit by 2.3% in the 4th quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock worth $2,217,681,000 after acquiring an additional 80,517 shares during the period. Finally, Norges Bank purchased a new position in Intuit in the 4th quarter worth approximately $2,101,848,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of analyst reports. Erste Group Bank restated a “hold” rating on shares of Intuit in a report on Friday, June 14th. BMO Capital Markets restated an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Stifel Nicolaus decreased their price target on Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. UBS Group increased their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Finally, KeyCorp increased their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $687.22.

Insider Activity

In other news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was 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 of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction dated Tuesday, May 28th. The stock was 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 of the company’s stock, valued at $1,409,880.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 965 shares of Intuit stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $651.00, for a total value of $628,215.00. Following the transaction, the executive vice president now directly owns 1,020 shares in the company, valued at $664,020. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 195,963 shares of company stock valued at $114,442,445. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

NASDAQ INTU traded up $8.85 during trading hours on Friday, hitting $668.75. The company had a trading volume of 1,517,071 shares, compared to its average volume of 1,424,375. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $621.74 and a 200-day simple moving average of $629.75. The firm has a market cap of $186.95 billion, a P/E ratio of 61.69, a price-to-earnings-growth ratio of 3.77 and a beta of 1.23.

Intuit (NASDAQ:INTU) last issued its quarterly 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 company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $7.80 earnings per share. Equities analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

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.