Intuit Inc. (NASDAQ:INTU) Stock Position Cut by Robertson Stephens Wealth Management LLC

Robertson Stephens Wealth Management LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 67.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,140 shares of the software maker’s stock after selling 2,351 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Intuit were worth $717,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. R Squared Ltd bought a new position in shares of Intuit during the 4th quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of Intuit in the third quarter worth approximately $27,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC bought a new position in Intuit during the third quarter valued at approximately $32,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on INTU shares. Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective on the stock. in a research note on Wednesday, January 15th. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Barclays cut their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

Shares of NASDAQ:INTU opened at $578.85 on Friday. The stock has a market capitalization of $162.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 2.96 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. The business has a 50-day moving average price of $627.45 and a two-hundred day moving average price of $632.08.

Intuit (NASDAQ:INTU) last posted 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 company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.14 EPS. Equities analysts predict that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The business 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 was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit’s payout ratio is currently 40.39%.

Insider Buying and Selling

In other news, CFO Sandeep Aujla sold 1,300 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the sale, the chief financial officer now owns 644 shares of the company’s stock, valued at approximately $403,414.48. This represents a 66.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were 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 directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, 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.