Intuit Inc. (NASDAQ:INTU) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 0.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,175 shares of the software maker’s stock after selling 17 shares during the quarter. HighTower Advisors LLC’s holdings in Intuit were worth $36,079,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Harvest Portfolios Group Inc. grew its stake in Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares in the last quarter. GAMMA Investing LLC grew its stake in Intuit by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC acquired a new stake in Intuit during the 3rd quarter valued at approximately $740,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit during the 3rd quarter valued at approximately $56,144,000. Finally, Howe & Rusling Inc. grew its stake in Intuit by 8.0% during the 3rd quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock valued at $6,742,000 after purchasing an additional 808 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 2.9 %

INTU opened at $654.64 on Thursday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. 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 fifty day moving average is $634.29 and its 200-day moving average is $631.12. The company has a market capitalization of $183.25 billion, a PE ratio of 63.56, a P/E/G ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

Analysts Set New Price Targets

A number of brokerages have weighed in on INTU. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets lifted their target price on Intuit from $700.00 to $760.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, Oppenheimer lifted their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Insider Transactions at Intuit

In related news, CFO Sandeep Aujla sold 4,000 shares of Intuit stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now directly owns 452 shares in the company, valued at $279,010.56. The trade was a 89.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,324 shares of company stock valued at $75,803,690. Corporate insiders own 2.68% of the company’s stock.

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.