Vaughan Nelson Investment Management L.P. Sells 36,994 Shares of Intuit Inc. (NASDAQ:INTU)

Vaughan Nelson Investment Management L.P. trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 239,836 shares of the software maker’s stock after selling 36,994 shares during the period. Intuit makes up approximately 1.4% of Vaughan Nelson Investment Management L.P.’s portfolio, making the stock its 21st biggest holding. Vaughan Nelson Investment Management L.P.’s holdings in Intuit were worth $150,738,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brookstone Capital Management increased its stake in Intuit by 1.8% in the third quarter. Brookstone Capital Management now owns 2,020 shares of the software maker’s stock valued at $1,254,000 after acquiring an additional 35 shares during the last quarter. CWM LLC increased its position in shares of Intuit by 1.4% during the 3rd quarter. CWM LLC now owns 16,910 shares of the software maker’s stock valued at $10,501,000 after purchasing an additional 227 shares during the last quarter. LVW Advisors LLC raised its holdings in shares of Intuit by 23.4% during the 3rd quarter. LVW Advisors LLC now owns 486 shares of the software maker’s stock valued at $302,000 after buying an additional 92 shares in the last quarter. Fermata Advisors LLC lifted its position in Intuit by 5.7% in the 3rd quarter. Fermata Advisors LLC now owns 598 shares of the software maker’s stock worth $371,000 after buying an additional 32 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Intuit by 44.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 10,585 shares of the software maker’s stock worth $6,572,000 after buying an additional 3,258 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the sale, the executive vice president now owns 33,916 shares of the company’s stock, valued at approximately $22,304,518.24. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. Insiders own 2.68% of the company’s stock.

Intuit Stock Down 1.9 %

Shares of NASDAQ:INTU opened at $578.85 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a market capitalization of $162.03 billion, a P/E ratio of 56.20, a P/E/G ratio of 2.91 and a beta of 1.24. The stock has a 50 day moving average price of $626.20 and a 200-day moving average price of $631.62.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for 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 company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio is 40.39%.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. Stifel Nicolaus lowered 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. JPMorgan Chase & Co. upped their price target on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $726.53.

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.