Intuit Inc. (NASDAQ:INTU) Stake Lessened by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 34.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,400 shares of the software maker’s stock after selling 3,857 shares during the period. Park Avenue Securities LLC’s holdings in Intuit were worth $4,596,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in INTU. Wellington Management Group LLP lifted its holdings 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 during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $467,852,000. SG Americas Securities LLC lifted its stake in Intuit by 940.4% during the first quarter. SG Americas Securities LLC now owns 315,670 shares of the software maker’s stock valued at $205,186,000 after purchasing an additional 285,328 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Intuit by 1.1% during the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock worth $16,937,502,000 after buying an additional 283,291 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in Intuit in the second quarter worth approximately $184,982,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now directly owns 20 shares in the company, valued at $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intuit news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the sale, the executive vice president now directly owns 20 shares of the company’s stock, valued at approximately $12,575.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 775 shares of Intuit stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,297 shares of company stock valued at $32,750,926 in the last 90 days. 2.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INTU. Royal Bank of Canada began coverage on Intuit in a research report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 target price on the stock. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Stifel Nicolaus raised their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets boosted their price target on shares of Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. Finally, StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Performance

Shares of INTU traded up $6.86 on Friday, reaching $610.67. 1,220,267 shares of the stock traded hands, compared to its average volume of 1,330,014. The stock’s 50-day moving average price is $632.84 and its 200-day moving average price is $629.59. 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 has a market cap of $170.71 billion, a price-to-earnings ratio of 56.33, a P/E/G ratio of 3.13 and a beta of 1.24. Intuit Inc. has a 12 month low of $473.56 and a 12 month high of $676.62.

Intuit (NASDAQ:INTU) last announced 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. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Thursday, October 10th will be paid a $1.04 dividend. This is a positive change from Intuit’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is currently 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.