XML Financial LLC Sells 262 Shares of Intuit Inc. (NASDAQ:INTU)

XML Financial LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 44.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 329 shares of the software maker’s stock after selling 262 shares during the period. XML Financial LLC’s holdings in Intuit were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Vanguard Group Inc. boosted its holdings in shares of Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after acquiring an additional 283,291 shares during the period. Legal & General Group Plc increased its holdings in shares of Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares during the period. Ameriprise Financial Inc. raised its position in shares of Intuit by 17.3% in the second quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares in the last quarter. Principal Financial Group Inc. grew its position in Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock worth $925,262,000 after buying an additional 56,370 shares in the last quarter. Finally, Capital World Investors raised its holdings in Intuit by 1.0% in the 1st quarter. Capital World Investors now owns 1,188,779 shares of the software maker’s stock valued at $772,706,000 after acquiring an additional 12,068 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Susquehanna reaffirmed a “positive” rating and issued a $757.00 target price on shares of Intuit in a report on Friday, August 16th. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $735.71.

Intuit Stock Performance

Shares of INTU opened at $697.35 on Tuesday. The stock has a 50 day moving average of $625.54 and a 200 day moving average of $627.73. The company has a market capitalization of $195.46 billion, a price-to-earnings ratio of 65.48, a PEG ratio of 3.34 and a beta of 1.25. Intuit Inc. has a 12 month low of $523.32 and a 12 month high of $698.96. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The business had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit Inc. will post 14.04 earnings per share for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, October 10th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a yield of 0.60%. Intuit’s dividend payout ratio is 39.81%.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 2,461 shares of Intuit stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the sale, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 2,461 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the completion of the transaction, the insider now directly owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,297 shares of company stock valued at $35,220,046. Company insiders own 2.90% 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.