Intuit Inc. (NASDAQ:INTU) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in Intuit Inc. (NASDAQ:INTU) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 559,947 shares of the software maker’s stock after selling 5,844 shares during the period. Rhumbline Advisers owned 0.20% of Intuit worth $351,927,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brown Financial Advisors grew its holdings in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after purchasing an additional 16 shares during the period. Chris Bulman Inc lifted its position in shares of Intuit by 1.1% during the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock worth $944,000 after purchasing an additional 17 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its stake in Intuit by 1.8% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock valued at $604,000 after purchasing an additional 17 shares during the period. Finally, Freedom Day Solutions LLC grew its holdings in Intuit by 0.4% in the 3rd quarter. Freedom Day Solutions LLC now owns 4,186 shares of the software maker’s stock valued at $2,599,000 after buying an additional 17 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTU. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price for the company. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

Shares of INTU opened at $587.38 on Friday. The firm’s 50 day moving average price is $621.39 and its two-hundred day moving average price is $630.35. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The firm has a market cap of $164.42 billion, a P/E ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the previous year, the firm posted $1.14 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.