Mount Yale Investment Advisors LLC Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Mount Yale Investment Advisors LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 42.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 956 shares of the software maker’s stock after selling 693 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Intuit were worth $628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTU. Intech Investment Management LLC increased its holdings in shares of Intuit by 134.7% during the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock valued at $2,991,000 after acquiring an additional 2,641 shares in the last quarter. Parnassus Investments LLC raised its holdings in Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after buying an additional 727,185 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Intuit by 1.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after buying an additional 1,990 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after buying an additional 2,336,654 shares during the last quarter. Finally, Cetera Advisors LLC increased its position in shares of Intuit by 33.4% during the first quarter. Cetera Advisors LLC now owns 10,607 shares of the software maker’s stock valued at $6,895,000 after acquiring an additional 2,655 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Down 0.5 %

Intuit stock opened at $641.97 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s 50 day moving average price is $636.49 and its 200-day moving average price is $631.06. Intuit Inc. has a 1 year low of $473.56 and a 1 year high of $676.62. The stock has a market cap of $179.46 billion, a P/E ratio of 59.22, a PEG ratio of 3.14 and a beta of 1.24.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping 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 net margin of 18.19% and a return on equity of 18.64%. The business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. On average, equities analysts predict that Intuit Inc. will post 14.06 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. This is a boost from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. Intuit’s dividend payout ratio is 38.38%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus upped their price objective on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Citigroup increased their price objective on Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Susquehanna reissued a “positive” rating and issued a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. JPMorgan Chase & Co. raised their price target on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Finally, Erste Group Bank reissued a “hold” rating on shares of Intuit in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $720.37.

Insider Activity

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

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.