Intuit Inc. (NASDAQ:INTU) Holdings Boosted by Guinness Asset Management LTD

Guinness Asset Management LTD grew its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,354 shares of the software maker's stock after purchasing an additional 6,075 shares during the period. Intuit makes up about 0.8% of Guinness Asset Management LTD's holdings, making the stock its 29th largest holding. Guinness Asset Management LTD's holdings in Intuit were worth $42,333,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB boosted its holdings in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after acquiring an additional 268,060 shares during the period. Harvest Portfolios Group Inc. boosted its stake in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker's stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC grew its holdings in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker's stock valued at $2,383,000 after purchasing an additional 968 shares in the last quarter. Retireful LLC purchased a new stake in Intuit during the 3rd quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Intuit during the 3rd quarter worth approximately $56,144,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

INTU traded down $3.14 during trading hours on Monday, hitting $604.13. The company's stock had a trading volume of 2,830,783 shares, compared to its average volume of 1,248,995. The company has a 50-day simple moving average of $646.09 and a 200 day simple moving average of $636.77. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $169.11 billion, a PE ratio of 58.65, a PEG ratio of 3.07 and a beta of 1.25. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last announced 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 firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm posted $1.14 EPS. Intuit's revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was 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 40.39%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on Intuit from $600.00 to $640.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a "buy" rating for the company in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a report on Wednesday, January 15th. Finally, BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $726.53.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit 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.