Alpha Omega Wealth Management LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,045 shares of the software maker’s stock after selling 41 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Intuit were worth $274,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of INTU. Principal Financial Group Inc. boosted its position in Intuit by 199.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,203,409 shares of the software maker’s stock worth $315,209,000 after purchasing an additional 801,809 shares during the period. BlackRock Inc. boosted its position in Intuit by 2.5% during the second quarter. BlackRock Inc. now owns 20,667,701 shares of the software maker’s stock worth $5,401,090,000 after purchasing an additional 503,291 shares during the period. Assenagon Asset Management S.A. boosted its position in Intuit by 421.9% during the third quarter. Assenagon Asset Management S.A. now owns 412,246 shares of the software maker’s stock worth $109,633,000 after purchasing an additional 333,258 shares during the period. First Trust Advisors LP boosted its position in shares of Intuit by 69.7% in the fourth quarter. First Trust Advisors LP now owns 732,400 shares of the software maker’s stock valued at $191,838,000 after acquiring an additional 300,700 shares during the period. Finally, Voya Investment Management LLC boosted its position in shares of Intuit by 23.2% in the third quarter. Voya Investment Management LLC now owns 1,406,961 shares of the software maker’s stock valued at $374,166,000 after acquiring an additional 264,527 shares during the period. Hedge funds and other institutional investors own 86.51% of the company’s stock.
A number of equities analysts have recently commented on the stock. Wells Fargo & Co assumed coverage on shares of Intuit in a research report on Monday, January 27th. They issued an “equal weight” rating and a $300.00 price objective for the company. Morgan Stanley raised their price objective on shares of Intuit from $260.00 to $290.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Credit Suisse Group restated an “outperform” rating and issued a $300.00 price objective on shares of Intuit in a research report on Thursday, January 2nd. Zacks Investment Research lowered shares of Intuit from a “buy” rating to a “hold” rating and set a $280.00 price objective for the company. in a research report on Monday, December 30th. Finally, Guggenheim restated a “buy” rating and issued a $320.00 price objective on shares of Intuit in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $289.61.
Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.16. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Intuit had a net margin of 22.79% and a return on equity of 42.04%. Intuit’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. On average, equities analysts anticipate that Intuit Inc. will post 6.3 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Investors of record on Friday, January 10th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend was Thursday, January 9th. Intuit’s dividend payout ratio is currently 37.99%.
In related news, EVP James Alexander Chriss sold 21,543 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $258.78, for a total value of $5,574,897.54. Following the sale, the executive vice president now directly owns 126 shares of the company’s stock, valued at $32,606.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Brad D. Smith sold 227,450 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $257.72, for a total transaction of $58,618,414.00. Following the completion of the sale, the chairman now directly owns 549,985 shares in the company, valued at $141,742,134.20. The disclosure for this sale can be found here. Insiders sold 527,369 shares of company stock worth $136,763,551 over the last ninety days. 4.09% of the stock is currently owned by insiders.
Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.
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