Robertson Stephens Wealth Management LLC Has $717,000 Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Robertson Stephens Wealth Management LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 67.3% in the 4th quarter, HoldingsChannel reports. The firm owned 1,140 shares of the software maker’s stock after selling 2,351 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Intuit were worth $717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in shares of Intuit during the fourth quarter worth $25,000. Northwest Investment Counselors LLC bought a new position in Intuit in the third quarter valued at about $27,000. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new position in Intuit in the fourth quarter valued at about $29,000. Finally, Denver PWM LLC bought a new position in Intuit in the third quarter valued at about $32,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Down 1.9 %

Shares of NASDAQ INTU opened at $578.85 on Friday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. 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 business’s fifty day moving average price is $627.45 and its 200-day moving average price is $632.08. The stock has a market capitalization of $162.03 billion, a PE ratio of 56.20, a P/E/G ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for 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%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued 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 yield of 0.72%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insiders Place Their Bets

In other Intuit news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the 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 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. Insiders have sold 293,014 shares of company stock worth $188,992,187 in the last ninety days. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research note on Wednesday, January 15th. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Scotiabank started coverage on Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One research 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, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.