Intuit Inc. (NASDAQ:INTU) Shares Sold by Cascade Investment Group Inc.

Cascade Investment Group Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,395 shares of the software maker’s stock after selling 20 shares during the quarter. Intuit makes up about 1.1% of Cascade Investment Group Inc.’s portfolio, making the stock its 20th biggest holding. Cascade Investment Group Inc.’s holdings in Intuit were worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC grew its position in Intuit by 9.3% in the second quarter. Intech Investment Management LLC now owns 5,030 shares of the software maker’s stock worth $3,306,000 after acquiring an additional 429 shares during the period. AE Wealth Management LLC grew its holdings in shares of Intuit by 57.0% during the 2nd quarter. AE Wealth Management LLC now owns 8,726 shares of the software maker’s stock worth $5,735,000 after purchasing an additional 3,169 shares during the period. Pacer Advisors Inc. increased its position in shares of Intuit by 12.8% during the 2nd quarter. Pacer Advisors Inc. now owns 41,621 shares of the software maker’s stock worth $27,354,000 after purchasing an additional 4,730 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Intuit by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock valued at $9,427,000 after buying an additional 186 shares during the period. Finally, Kowal Investment Group LLC acquired a new position in Intuit in the second quarter valued at about $248,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on INTU shares. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Finally, Scotiabank initiated coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 0.5 %

Shares of Intuit stock opened at $604.13 on Monday. 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 has a fifty day simple moving average of $646.09 and a 200-day simple moving average of $636.93. The stock has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (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 company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 EPS 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. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Insider Transactions at Intuit

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction that occurred on 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 completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

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.