Intuit Inc. (NASDAQ:INTU) Shares Sold by Old Port Advisors

Old Port Advisors reduced its stake in shares of Intuit Inc. (NASDAQ:INTU – Get Rating) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,494 shares of the software maker’s stock after selling 129 shares during the quarter. Old Port Advisors’ holdings in Intuit were worth $971,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTU. WP Advisors LLC increased its position in Intuit by 3.7% in the 3rd quarter. WP Advisors LLC now owns 706 shares of the software maker’s stock valued at $273,000 after acquiring an additional 25 shares during the period. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Intuit by 3.6% in the third quarter. Halbert Hargrove Global Advisors LLC now owns 739 shares of the software maker’s stock valued at $286,000 after purchasing an additional 26 shares during the period. Mission Creek Capital Partners Inc. increased its holdings in shares of Intuit by 0.4% in the third quarter. Mission Creek Capital Partners Inc. now owns 5,909 shares of the software maker’s stock valued at $2,289,000 after purchasing an additional 26 shares during the period. Welch & Forbes LLC raised its stake in shares of Intuit by 0.6% during the third quarter. Welch & Forbes LLC now owns 4,542 shares of the software maker’s stock worth $1,759,000 after purchasing an additional 29 shares during the last quarter. Finally, Resources Investment Advisors LLC. lifted its holdings in shares of Intuit by 3.2% during the third quarter. Resources Investment Advisors LLC. now owns 970 shares of the software maker’s stock worth $376,000 after purchasing an additional 30 shares during the period. 82.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In related news, EVP James Alexander Chriss sold 597 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at approximately $137,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James Alexander Chriss sold 597 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $400.00, for a total value of $238,800.00. Following the completion of the transaction, the executive vice president now owns 344 shares of the company’s stock, valued at approximately $137,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 500 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $413.16, for a total transaction of $206,580.00. Following the completion of the transaction, the chief accounting officer now directly owns 1,781 shares of the company’s stock, valued at approximately $735,837.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,925 shares of company stock valued at $3,258,123. 3.18% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Intuit from $448.00 to $462.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Bank of America dropped their target price on Intuit from $500.00 to $475.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Daiwa Capital Markets assumed coverage on Intuit in a research note on Wednesday. They set an “outperform” rating and a $444.00 target price for the company. UBS Group started coverage on Intuit in a research note on Wednesday. They issued a “neutral” rating and a $430.00 price target on the stock. Finally, Jefferies Financial Group cut their price objective on Intuit from $575.00 to $525.00 in a research report on Wednesday, November 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $483.53.

Intuit Stock Down 1.1 %

INTU stock opened at $413.69 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.23. The company’s 50 day simple moving average is $408.58 and its 200-day simple moving average is $404.01. Intuit Inc. has a 12 month low of $339.36 and a 12 month high of $507.71. The firm has a market capitalization of $116.06 billion, a PE ratio of 60.66, a P/E/G ratio of 3.12 and a beta of 1.16.

Intuit (NASDAQ:INTU – Get Rating) last posted its earnings results on Thursday, February 23rd. The software maker reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.76. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $2.91 billion. Intuit had a return on equity of 14.89% and a net margin of 14.22%. Intuit’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.67 EPS. Equities analysts expect that Intuit Inc. will post 9.01 earnings per share for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 18th. Investors of record on Monday, April 10th will be given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Thursday, April 6th. Intuit’s dividend payout ratio is presently 45.75%.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.