Edgestream Partners L.P. Has $312,000 Stock Position in Intuit Inc. (NASDAQ:INTU)

Edgestream Partners L.P. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 88.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 475 shares of the software maker’s stock after selling 3,631 shares during the quarter. Edgestream Partners L.P.’s holdings in Intuit were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aveo Capital Partners LLC bought a new position in Intuit during the fourth quarter valued at about $203,000. 9258 Wealth Management LLC raised its stake in shares of Intuit by 29.0% in the fourth quarter. 9258 Wealth Management LLC now owns 650 shares of the software maker’s stock valued at $406,000 after purchasing an additional 146 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in Intuit by 31.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,635 shares of the software maker’s stock worth $1,022,000 after purchasing an additional 393 shares during the period. Hilltop Holdings Inc. boosted its stake in Intuit by 4.7% during the fourth quarter. Hilltop Holdings Inc. now owns 2,377 shares of the software maker’s stock worth $1,486,000 after buying an additional 107 shares in the last quarter. Finally, JARISLOWSKY FRASER Ltd acquired a new stake in Intuit during the fourth quarter worth $819,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on INTU. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a report on Friday. Susquehanna reaffirmed a “positive” rating and set a $757.00 price objective on shares of Intuit in a report on Friday, August 16th. Stifel Nicolaus increased their target price on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup boosted their price target on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their price objective on Intuit from $585.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fifteen have assigned 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 $720.37.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 2,988 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $649.87, for a total value of $1,941,811.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares in the company, valued at approximately $2,170,682.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,389 shares of company stock valued at $14,231,188. Company insiders own 2.90% of the company’s stock.

Intuit Stock Down 0.5 %

NASDAQ:INTU opened at $641.97 on Tuesday. The stock’s fifty day moving average price is $636.49 and its two-hundred day moving average price is $631.06. The company has a market cap of $179.46 billion, a price-to-earnings ratio of 59.22, a P/E/G ratio of 3.14 and a beta of 1.24. Intuit Inc. has a 52-week low of $473.56 and a 52-week high of $676.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.14. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. On average, analysts anticipate that Intuit Inc. will post 14.06 EPS for the current year.

Intuit Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. Intuit’s dividend payout ratio (DPR) is presently 38.38%.

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.