Cumberland Partners Ltd Sells 150 Shares of Intuit Inc. (NASDAQ:INTU)

Cumberland Partners Ltd lessened its stake in Intuit Inc. (NASDAQ:INTU) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,215 shares of the software maker’s stock after selling 150 shares during the period. Cumberland Partners Ltd’s holdings in Intuit were worth $1,371,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of INTU. GAMMA Investing LLC acquired a new position in shares of Intuit in the 4th quarter valued at $915,000. Linden Thomas Advisory Services LLC grew its holdings in shares of Intuit by 10.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,131 shares of the software maker’s stock valued at $3,832,000 after buying an additional 564 shares during the period. Community Bank & Trust Waco Texas grew its holdings in shares of Intuit by 5.6% in the 4th quarter. Community Bank & Trust Waco Texas now owns 1,463 shares of the software maker’s stock valued at $914,000 after buying an additional 77 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Intuit by 17.8% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,123 shares of the software maker’s stock valued at $702,000 after buying an additional 170 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Intuit by 452.4% in the 4th quarter. Larson Financial Group LLC now owns 116 shares of the software maker’s stock valued at $73,000 after buying an additional 95 shares during the period. Institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intuit news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 over the last three months. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a report on Tuesday, March 26th. Stifel Nicolaus boosted their price target on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Barclays upped their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. KeyCorp upped their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 27th. Finally, Oppenheimer upped their target price on shares of Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Performance

NASDAQ:INTU traded up $5.16 during mid-day trading on Wednesday, hitting $636.04. The stock had a trading volume of 791,754 shares, compared to its average volume of 1,242,312. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01. The stock has a market cap of $178.09 billion, a price-to-earnings ratio of 64.86, a PEG ratio of 3.71 and a beta of 1.21. The company’s 50 day simple moving average is $641.83 and its 200 day simple moving average is $601.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period last year, the business posted $1.05 EPS. Intuit’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

About Intuit

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.