Assenagon Asset Management S.A. Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Assenagon Asset Management S.A. reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 88,128 shares of the software maker's stock after selling 14,388 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Intuit were worth $55,388,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the third quarter worth $27,000. Denver PWM LLC acquired a new stake in shares of Intuit during the 3rd quarter valued at $32,000. Dunhill Financial LLC grew its position in Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker's stock worth $38,000 after acquiring an additional 32 shares during the last quarter. Groupama Asset Managment increased its holdings in Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker's stock worth $47,000 after purchasing an additional 720 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Intuit in the second quarter valued at about $49,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Down 2.3 %

INTU stock traded down $14.16 during midday trading on Thursday, reaching $607.29. 2,832,772 shares of the company's stock traded hands, compared to its average volume of 1,623,347. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm's fifty day moving average price is $649.03 and its 200-day moving average price is $637.60. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78. The company has a market cap of $169.99 billion, a price-to-earnings ratio of 58.96, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The firm's revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit's dividend payout ratio (DPR) is currently 40.39%.

Wall Street Analyst Weigh In

INTU has been the topic of several research reports. Oppenheimer boosted 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. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Morgan Stanley boosted their price objective on shares of Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $726.53.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the transaction, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % 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, CAO Lauren D. Hotz sold 1,078 shares of the firm's stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company's stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock valued at $188,992,187. Insiders own 2.68% of the company's stock.

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.