Intuit Inc. (NASDAQ:INTU) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 16.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 624 shares of the software maker’s stock after selling 122 shares during the period. TCI Wealth Advisors Inc.’s holdings in Intuit were worth $392,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Institute for Wealth Management LLC. grew its holdings in shares of Intuit by 10.2% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,492 shares of the software maker’s stock worth $938,000 after buying an additional 138 shares in the last quarter. Oak Harvest Investment Services purchased a new stake in Intuit during the 4th quarter valued at about $3,268,000. Cibc World Market Inc. raised its holdings in Intuit by 284.5% in the 4th quarter. Cibc World Market Inc. now owns 58,084 shares of the software maker’s stock valued at $36,506,000 after acquiring an additional 42,976 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Intuit by 79.2% in the 4th quarter. Mediolanum International Funds Ltd now owns 108,849 shares of the software maker’s stock worth $68,439,000 after purchasing an additional 48,091 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Intuit during the 4th quarter worth approximately $418,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTU shares. Scotiabank initiated coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective on the stock. Oppenheimer lifted their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus dropped their price objective on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Morgan Stanley raised their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Buying and Selling

In related news, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at $325,664.22. The trade was a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the completion of the sale, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. The trade was a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last three months. 2.68% of the stock is owned by corporate insiders.

Intuit Stock Performance

NASDAQ INTU opened at $604.60 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $169.24 billion, a P/E ratio of 58.70, a P/E/G ratio of 2.92 and a beta of 1.25. The stock has a 50-day moving average of $631.72 and a two-hundred day moving average of $634.06. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is 40.39%.

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.