Sanctuary Advisors LLC Sells 623 Shares of Intuit Inc. (NASDAQ:INTU)

Sanctuary Advisors LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,754 shares of the software maker’s stock after selling 623 shares during the quarter. Sanctuary Advisors LLC’s holdings in Intuit were worth $12,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Harvest Portfolios Group Inc. lifted its stake in Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after acquiring an additional 968 shares during the last quarter. Retireful LLC purchased a new stake in Intuit during the 3rd quarter valued at about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit during the 3rd quarter worth approximately $56,144,000. Finally, Howe & Rusling Inc. increased its stake in Intuit by 8.0% in the 3rd quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after purchasing an additional 808 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Stifel Nicolaus cut their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $737.44.

Intuit Stock Performance

Shares of INTU stock opened at $656.45 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $639.96 and its 200-day moving average price is $631.62. The stock has a market cap of $183.75 billion, a PE ratio of 63.73, a price-to-earnings-growth ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping 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 analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities analysts expect that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now directly owns 4,451 shares in the company, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,542 shares of company stock worth $97,235,054. 2.68% of the stock is owned by 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.