Appleton Partners Inc. MA Sells 2,282 Shares of Intuit Inc. (NASDAQ:INTU)

Appleton Partners Inc. MA lessened its stake in Intuit Inc. (NASDAQ:INTU) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,027 shares of the software maker’s stock after selling 2,282 shares during the period. Intuit comprises about 1.3% of Appleton Partners Inc. MA’s portfolio, making the stock its 17th biggest position. Appleton Partners Inc. MA’s holdings in Intuit were worth $16,268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in INTU. V Square Quantitative Management LLC grew its position in shares of Intuit by 18.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 3,050 shares of the software maker’s stock worth $1,558,000 after buying an additional 482 shares during the period. Parnassus Investments LLC increased its stake in Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock valued at $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Maryland State Retirement & Pension System boosted its position in shares of Intuit by 1.1% during the 4th quarter. Maryland State Retirement & Pension System now owns 21,268 shares of the software maker’s stock worth $13,293,000 after purchasing an additional 226 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Intuit by 1.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock valued at $112,381,000 after buying an additional 1,990 shares during the period. Finally, Glenmede Trust Co. NA increased its position in Intuit by 12.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 18,397 shares of the software maker’s stock valued at $9,400,000 after buying an additional 2,074 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $597.85, for a total value of $44,838,750.00. Following the sale, the insider now owns 6,791,469 shares in the company, valued at $4,060,279,741.65. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Sandeep Aujla sold 1,415 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the sale, the chief financial officer now directly owns 2,332 shares in the company, valued at $1,409,880.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at approximately $4,060,279,741.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 194,217 shares of company stock worth $113,301,418. 2.90% of the stock is currently owned by company insiders.

Intuit Trading Up 0.2 %

Shares of INTU traded up $1.02 during trading hours on Tuesday, hitting $603.54. The company had a trading volume of 270,556 shares, compared to its average volume of 1,313,071. The firm has a market cap of $168.72 billion, a P/E ratio of 55.77, a P/E/G ratio of 3.41 and a beta of 1.21. Intuit Inc. has a 52-week low of $442.74 and a 52-week high of $676.62. The stock’s 50 day moving average price is $616.68 and its 200 day moving average price is $625.12. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.65 billion. During the same quarter in the prior year, the firm posted $7.80 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is 33.21%.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. Stifel Nicolaus cut their target price on Intuit from $720.00 to $690.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. UBS Group upped their price objective on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a research report on Monday, May 20th. Mizuho boosted their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Morgan Stanley lifted their price target on Intuit from $680.00 to $740.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Finally, Barclays raised their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $679.41.

Intuit 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.