Montag A & Associates Inc. Sells 2,035 Shares of Intuit Inc. (NASDAQ:INTU)

Montag A & Associates Inc. reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 13.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,435 shares of the software maker’s stock after selling 2,035 shares during the quarter. Montag A & Associates Inc.’s holdings in Intuit were worth $8,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in Intuit by 68,404.7% during the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock valued at $300,768,000 after purchasing an additional 483,621 shares during the period. Holocene Advisors LP raised its stake in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after buying an additional 268,060 shares during the last quarter. State Street Corp grew its holdings in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after acquiring an additional 221,885 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in Intuit during the fourth quarter valued at $104,278,000. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INTU has been the topic of several research reports. 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. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus decreased 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. JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Oppenheimer raised their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $587.38 on Friday. The company has a market cap of $164.42 billion, a P/E ratio of 57.03, a P/E/G ratio of 2.91 and a beta of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week 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 firm’s fifty day moving average is $620.21 and its two-hundred day moving average is $630.01.

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

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s dividend payout ratio is currently 40.39%.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated 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 approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

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.