Chesley Taft & Associates LLC Sells 85 Shares of Intuit Inc. (NASDAQ:INTU)

Chesley Taft & Associates LLC cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,360 shares of the software maker’s stock after selling 85 shares during the period. Chesley Taft & Associates LLC’s holdings in Intuit were worth $1,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Copia Wealth Management bought a new position in Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Summit Securities Group LLC bought a new position in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the fourth quarter worth about $28,000. Finally, Heck Capital Advisors LLC bought a new position in Intuit during the fourth quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. KeyCorp reiterated an “overweight” rating and set a $850.00 target price (up from $770.00) on shares of Intuit in a report on Friday, May 23rd. Oppenheimer reiterated an “outperform” rating and set a $742.00 target price (up from $642.00) on shares of Intuit in a report on Friday, May 23rd. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 23rd. UBS Group set a $750.00 price target on Intuit and gave the company a “neutral” rating in a research note on Friday, May 23rd. Finally, The Goldman Sachs Group lifted their price target on Intuit from $750.00 to $860.00 and gave the company a “buy” rating in a research note on Monday, May 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $785.33.

Intuit Price Performance

NASDAQ:INTU opened at $766.64 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $643.09 and its 200 day simple moving average is $625.50. The company has a market cap of $213.85 billion, a P/E ratio of 74.43, a P/E/G ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $773.45.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.89 by $0.76. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. Intuit’s quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.88 earnings per share. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 1,459 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $770.80, for a total transaction of $1,124,597.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,592 shares of company stock valued at $165,325,437. 2.68% of the stock is owned by insiders.

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.