First Affirmative Financial Network Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

First Affirmative Financial Network trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 7.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129 shares of the software maker’s stock after selling 91 shares during the period. First Affirmative Financial Network’s holdings in Intuit were worth $710,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of Intuit by 7.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,343 shares of the software maker’s stock valued at $11,396,000 after acquiring an additional 1,230 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new position in Intuit in the 2nd quarter valued at about $348,000. Cetera Investment Advisers lifted its holdings in Intuit by 0.9% in the 2nd quarter. Cetera Investment Advisers now owns 47,187 shares of the software maker’s stock valued at $31,012,000 after purchasing an additional 431 shares in the last quarter. Brown Financial Advisors acquired a new stake in shares of Intuit during the 2nd quarter worth about $1,067,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Intuit during the second quarter worth about $12,334,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 1.3 %

Shares of INTU opened at $592.99 on Thursday. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The stock’s 50-day moving average is $634.37 and its two-hundred day moving average is $634.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $165.99 billion, a PE ratio of 57.57, a P/E/G ratio of 3.01 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 EPS. Equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This 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, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INTU. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. Barclays lowered their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Jefferies Financial Group lifted their price target on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $726.53.

Intuit Company 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.