Wealth Management Partners LLC Sells 73 Shares of Intuit Inc. (NASDAQ:INTU)

Wealth Management Partners LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 11.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 565 shares of the software maker’s stock after selling 73 shares during the quarter. Wealth Management Partners LLC’s holdings in Intuit were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in INTU. International Assets Investment Management LLC increased its position in Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP boosted its stake in shares of Intuit by 99.6% in the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the period. Finally, State Street Corp boosted its stake in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the company’s 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 approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group lifted their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Finally, Morgan Stanley raised their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Down 0.5 %

INTU stock opened at $604.13 on Monday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a market cap of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $646.09 and a two-hundred day moving average price of $636.93.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period last year, the business earned $1.14 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 40.39%.

Intuit Company Profile

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.