OneDigital Investment Advisors LLC Decreases Position in Intuit Inc. (NASDAQ:INTU)

OneDigital Investment Advisors LLC trimmed its position in Intuit Inc. (NASDAQ:INTU) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 7,262 shares of the software maker’s stock after selling 288 shares during the period. OneDigital Investment Advisors LLC’s holdings in Intuit were worth $4,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. ING Groep NV increased its position in shares of Intuit by 114.1% in the 3rd quarter. ING Groep NV now owns 94,903 shares of the software maker’s stock valued at $58,935,000 after acquiring an additional 50,577 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Intuit by 3.9% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 7,843 shares of the software maker’s stock valued at $4,871,000 after acquiring an additional 293 shares during the period. Metis Global Partners LLC increased its position in shares of Intuit by 1.8% in the 3rd quarter. Metis Global Partners LLC now owns 15,346 shares of the software maker’s stock valued at $9,530,000 after acquiring an additional 271 shares during the period. Aubrey Capital Management Ltd increased its position in shares of Intuit by 20.9% in the 3rd quarter. Aubrey Capital Management Ltd now owns 8,100 shares of the software maker’s stock valued at $5,030,000 after acquiring an additional 1,400 shares during the period. Finally, Planning Capital Management Corp increased its position in shares of Intuit by 67.9% in the 3rd quarter. Planning Capital Management Corp now owns 1,691 shares of the software maker’s stock valued at $1,050,000 after acquiring an additional 684 shares during the period. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. BMO Capital Markets increased their price target on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price target on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.24.

Intuit Trading Down 1.8 %

INTU stock opened at $687.87 on Friday. The company’s 50-day simple moving average is $631.62 and its 200-day simple moving average is $629.71. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Intuit Inc. has a 52-week low of $552.68 and a 52-week high of $714.78. The firm has a market cap of $192.80 billion, a P/E ratio of 65.82, a PEG ratio of 3.45 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $0.40 EPS. As a group, equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.60%. Intuit’s dividend payout ratio (DPR) is currently 39.81%.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 2,461 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the transaction, the insider now directly owns 6,453,105 shares of the company’s stock, valued at $4,111,853,974.95. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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. This trade represents a 30.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock valued at $35,220,046. 2.90% of the stock is owned by corporate insiders.

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.