Intuit Inc. (NASDAQ:INTU) Shares Sold by HBW Advisory Services LLC

HBW Advisory Services LLC reduced its stake in Intuit Inc. (NASDAQ:INTU) by 24.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 739 shares of the software maker’s stock after selling 241 shares during the quarter. HBW Advisory Services LLC’s holdings in Intuit were worth $464,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in Intuit during the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the 3rd quarter valued at $27,000. Denver PWM LLC acquired a new position in Intuit during the 3rd quarter worth about $32,000. Dunhill Financial LLC boosted its holdings in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after acquiring an additional 32 shares during the period. Finally, Kimelman & Baird LLC acquired a new position in Intuit in the 2nd quarter valued at about $49,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on INTU shares. Barclays reduced their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $737.44.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total value of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 291,936 shares of company stock worth $188,324,604 in the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.4 %

NASDAQ:INTU opened at $623.43 on Friday. The company has a market capitalization of $174.51 billion, a PE ratio of 60.53, a P/E/G ratio of 3.24 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock’s 50 day moving average price is $649.58 and its 200 day moving average price is $638.15. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Friday, January 10th. Intuit’s dividend payout ratio is currently 40.39%.

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.