EP Wealth Advisors LLC Sells 298 Shares of Intuit Inc. (NASDAQ:INTU)

EP Wealth Advisors LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 5.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,565 shares of the software maker’s stock after selling 298 shares during the quarter. EP Wealth Advisors LLC’s holdings in Intuit were worth $3,658,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC boosted its stake in Intuit by 134.7% in the first quarter. Intech Investment Management LLC now owns 4,601 shares of the software maker’s stock worth $2,991,000 after purchasing an additional 2,641 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Intuit by 1.1% during the 4th quarter. Public Employees Retirement System of Ohio now owns 179,801 shares of the software maker’s stock worth $112,381,000 after acquiring an additional 1,990 shares during the last quarter. Wellington Management Group LLP increased its position in Intuit by 173.0% in the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after acquiring an additional 2,336,654 shares in the last quarter. Cetera Advisors LLC lifted 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 worth $6,895,000 after purchasing an additional 2,655 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its position in shares of Intuit by 13.4% during the second quarter. Park Avenue Securities LLC now owns 11,257 shares of the software maker’s stock worth $7,398,000 after purchasing an additional 1,328 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the subject of several research analyst reports. Barclays dropped their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Erste Group Bank restated a “hold” rating on shares of Intuit in a research report on Friday, June 14th. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $750.00 to $685.00 in a report on Wednesday, August 14th. Royal Bank of Canada assumed coverage on Intuit in a research report on Wednesday, July 3rd. They issued an “outperform” rating and a $760.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $735.71.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 30,159 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the transaction, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $637.19, for a total transaction of $1,568,124.59. Following the sale, the insider now directly owns 6,453,105 shares in the company, valued at $4,111,853,974.95. The disclosure for this sale can be found here. Insiders sold a total of 51,583 shares of company stock valued at $32,975,909 in the last quarter. 2.90% of the stock is currently owned by insiders.

Intuit Stock Performance

Shares of INTU stock opened at $621.00 on Tuesday. The company has a market capitalization of $173.60 billion, a P/E ratio of 57.29, a price-to-earnings-growth ratio of 3.13 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. The company’s 50 day moving average price is $634.62 and its two-hundred day moving average price is $630.21.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 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 net margin of 18.19% and a return on equity of 18.64%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, analysts expect that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Thursday, October 10th. This is a positive change from Intuit’s previous quarterly dividend of $0.90. Intuit’s dividend payout ratio (DPR) is currently 38.38%.

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.