Quotient Wealth Partners LLC Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Quotient Wealth Partners LLC trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,441 shares of the software maker’s stock after selling 88 shares during the quarter. Quotient Wealth Partners LLC’s holdings in Intuit were worth $1,534,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. acquired a new stake in shares of Intuit during the 4th quarter worth about $621,000. Harvest Portfolios Group Inc. boosted its holdings in shares of Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after purchasing an additional 1,853 shares during the last quarter. Retireful LLC acquired a new position in Intuit in the third quarter valued at $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Intuit during the third quarter worth about $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Transactions at Intuit

In related news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares in the company, valued at $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares in the company, valued at $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. In the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Barclays decreased their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Finally, Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research 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 given a buy rating to the company. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

INTU stock opened at $578.85 on Friday. The firm has a market cap of $162.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. The stock’s 50 day simple moving average is $626.20 and its 200 day simple moving average is $631.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

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

Intuit Dividend Announcement

The business also recently declared 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.