Swedbank AB Has $73.75 Million Position in Intuit Inc. (NASDAQ:INTU)

Swedbank AB lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 117,350 shares of the software maker’s stock after selling 916 shares during the period. Swedbank AB’s holdings in Intuit were worth $73,754,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new stake in shares of Intuit during the 4th quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in Intuit in the 3rd quarter valued at about $27,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit during the fourth quarter worth approximately $29,000. Denver PWM LLC bought a new stake in shares of Intuit during the third quarter worth approximately $32,000. Finally, Dunhill Financial LLC grew its position in shares of Intuit by 110.3% in the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last ninety days. Company insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several recent research reports. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Down 1.3 %

Shares of Intuit stock opened at $592.99 on Thursday. The firm’s 50 day moving average is $634.37 and its 200 day moving average is $634.55. The firm has a market capitalization of $165.99 billion, a PE ratio of 57.57, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the firm posted $1.14 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.