Kathmere Capital Management LLC Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Kathmere Capital Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 438 shares of the software maker’s stock after selling 48 shares during the period. Kathmere Capital Management LLC’s holdings in Intuit were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter worth $27,000. Denver PWM LLC purchased a new position in shares of Intuit in the 3rd quarter valued at approximately $32,000. Dunhill Financial LLC increased its holdings 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 period. Groupama Asset Managment raised its stake in shares of Intuit by 10.6% during the third quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after purchasing an additional 720 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Intuit during the second quarter worth $49,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the transaction, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This represents a 41.23 % decrease in their position. The transaction 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 the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the transaction, the insider now owns 6,378,105 shares in the company, valued at approximately $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. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 2.3 %

INTU opened at $607.29 on Friday. The business’s fifty day simple moving average is $649.03 and its 200 day simple moving average is $637.60. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The firm has a market cap of $169.99 billion, a P/E ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its quarterly 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 company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $1.14 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be issued a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INTU shares. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Barclays dropped their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Scotiabank assumed coverage on Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Company 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.