W.H. Cornerstone Investments Inc. Sells 273 Shares of Intuit Inc. (NASDAQ:INTU)

W.H. Cornerstone Investments Inc. trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 20.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,066 shares of the software maker’s stock after selling 273 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Intuit were worth $670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Creative Planning lifted its position in shares of Intuit by 5.6% during the third quarter. Creative Planning now owns 53,552 shares of the software maker’s stock worth $33,256,000 after purchasing an additional 2,836 shares in the last quarter. SeaCrest Wealth Management LLC raised its position in Intuit by 4.4% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 687 shares of the software maker’s stock worth $427,000 after purchasing an additional 29 shares during the last quarter. Kowal Investment Group LLC lifted its holdings in Intuit by 103.7% during the 3rd quarter. Kowal Investment Group LLC now owns 768 shares of the software maker’s stock worth $477,000 after buying an additional 391 shares in the last quarter. Naviter Wealth LLC increased its stake in shares of Intuit by 5.2% in the 3rd quarter. Naviter Wealth LLC now owns 2,870 shares of the software maker’s stock valued at $1,782,000 after buying an additional 141 shares during the period. Finally, Good Life Advisors LLC acquired a new stake in shares of Intuit in the 3rd quarter valued at $367,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 1.3 %

NASDAQ INTU opened at $583.90 on Friday. Intuit Inc. has a 12 month low of $557.29 and a 12 month 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 stock has a 50 day moving average of $622.69 and a 200-day moving average of $630.67. The company has a market cap of $163.45 billion, a PE ratio of 56.69, a PEG ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share 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 analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’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 business earned $1.14 EPS. On average, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders 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 dividend on an annualized basis and a yield of 0.71%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 over the last ninety days. Insiders own 2.68% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent research reports. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. 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 report on Friday, November 22nd. Morgan Stanley increased their price objective 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. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One equities 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.