Los Angeles Capital Management LLC Sells 57,329 Shares of Intuit Inc. (NASDAQ:INTU)

Los Angeles Capital Management LLC cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 38.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,932 shares of the software maker’s stock after selling 57,329 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intuit were worth $59,756,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. CWM LLC increased its holdings in Intuit by 12.9% during the first quarter. CWM LLC now owns 16,407 shares of the software maker’s stock valued at $10,665,000 after buying an additional 1,871 shares during the period. Campbell Capital Management Inc. increased its holdings in Intuit by 10.1% during the first quarter. Campbell Capital Management Inc. now owns 9,905 shares of the software maker’s stock valued at $6,438,000 after buying an additional 905 shares during the period. General Partner Inc. purchased a new position in Intuit during the first quarter valued at approximately $122,000. Kapitalo Investimentos Ltda purchased a new position in Intuit during the fourth quarter valued at approximately $141,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in Intuit by 21.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 424 shares of the software maker’s stock valued at $265,000 after buying an additional 74 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTU. JPMorgan Chase & Co. lifted their price objective on shares of Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a report on Friday, February 23rd. Jefferies Financial Group restated a “buy” rating and issued a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. KeyCorp raised their target price on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Erste Group Bank restated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Finally, Oppenheimer raised their target price on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Five research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $679.41.

Insider Activity

In other news, insider Scott D. Cook sold 27,309 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the sale, the insider now directly owns 6,524,412 shares in the company, valued at approximately $3,870,020,221.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $567.75, for a total value of $42,581,250.00. Following the transaction, the insider now directly owns 6,626,721 shares of the company’s stock, valued at approximately $3,762,320,847.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 27,309 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Insiders have sold 193,937 shares of company stock worth $113,123,232 in the last ninety days. Company insiders own 2.90% of the company’s stock.

Intuit Price Performance

Shares of INTU opened at $609.68 on Thursday. The business’s 50-day moving average is $615.62 and its two-hundred day moving average is $625.26. The company has a market capitalization of $170.44 billion, a P/E ratio of 56.24, a P/E/G ratio of 3.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit Inc. has a fifty-two week low of $442.74 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion for the quarter, compared to the consensus estimate of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm earned $7.80 EPS. Research analysts predict that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.