HBK Sorce Advisory LLC Sells 57 Shares of Intuit Inc. (NASDAQ:INTU)

HBK Sorce Advisory LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,351 shares of the software maker’s stock after selling 57 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Intuit were worth $888,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in Intuit in the 4th quarter valued at $2,101,848,000. Wellington Management Group LLP boosted its stake 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 valued at $2,304,850,000 after buying an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC acquired a new stake in Intuit in the 4th quarter valued at $467,852,000. Parnassus Investments LLC boosted its stake in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after buying an additional 727,185 shares in the last quarter. Finally, Capital World Investors boosted its stake in Intuit by 54.7% in the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after buying an additional 416,099 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at $15,752,985.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the completion of the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,940 shares of company stock worth $10,721,252. 2.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on INTU shares. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. UBS Group boosted their price target on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Erste Group Bank reissued a “hold” rating on shares of Intuit in a research note on Friday, June 14th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Finally, Susquehanna reissued a “positive” rating and issued a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $720.37.

Intuit Trading Up 1.4 %

INTU stock opened at $655.31 on Friday. The company has a market cap of $183.68 billion, a P/E ratio of 60.45, a PEG ratio of 3.14 and a beta of 1.24. Intuit Inc. has a twelve month low of $473.56 and a twelve month high of $676.62. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $636.63 and a 200-day moving average of $632.02.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, equities research analysts expect that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio is currently 33.21%.

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.