Y.D. More Investments Ltd Sells 1,255 Shares of Intuit Inc. (NASDAQ:INTU)

Y.D. More Investments Ltd lessened its position in Intuit Inc. (NASDAQ:INTU) by 73.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 450 shares of the software maker’s stock after selling 1,255 shares during the period. Y.D. More Investments Ltd’s holdings in Intuit were worth $296,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Intuit during the 4th quarter valued at $2,101,848,000. Wellington Management Group LLP boosted its position in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC bought a new stake in Intuit in the 4th quarter worth about $467,852,000. Parnassus Investments LLC raised its position in Intuit by 119.0% in the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the last quarter. Finally, Capital World Investors lifted its stake in Intuit by 54.7% during the 4th quarter. Capital World Investors now owns 1,176,711 shares of the software maker’s stock valued at $735,480,000 after acquiring an additional 416,099 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.4 %

Shares of Intuit stock opened at $646.37 on Friday. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $180.69 billion, a P/E ratio of 59.63, a P/E/G ratio of 3.00 and a beta of 1.24. The company has a fifty day moving average of $636.90 and a 200 day moving average of $632.08.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is 38.38%.

Insider Buying and Selling

In other Intuit news, CFO Sandeep Aujla sold 862 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total value of $535,327.86. Following the sale, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $15,752,985.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,940 shares of company stock worth $10,721,252. 2.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INTU. BMO Capital Markets boosted their price objective on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. JPMorgan Chase & Co. boosted their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Saturday, August 31st. Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Finally, Barclays dropped their target price on Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $720.37.

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.