Intuit Inc. (NASDAQ:INTU) Shares Sold by Petredis Investment Advisors LLC

Petredis Investment Advisors LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,272 shares of the software maker’s stock after selling 71 shares during the period. Petredis Investment Advisors LLC’s holdings in Intuit were worth $2,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in INTU. State Street Corp grew its position in shares of Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock valued at $3,701,762,000 after purchasing an additional 80,463 shares during the last quarter. Fisher Asset Management LLC boosted its position in Intuit by 2.9% during the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares during the last quarter. Legal & General Group Plc boosted its position in Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after acquiring an additional 23,995 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intuit by 4.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Scotiabank initiated coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned 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 $726.53.

Intuit Stock Performance

Shares of INTU opened at $597.95 on Friday. The company’s fifty day moving average is $638.48 and its 200-day moving average is $635.52. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a market cap of $167.38 billion, a price-to-earnings ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business posted $1.14 EPS. Intuit’s revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandeep Aujla sold 1,300 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the sale, the chief financial officer now owns 644 shares in the company, valued at $403,414.48. The trade was a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company 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.