Gateway Investment Advisers LLC Has $2.25 Million Stake in Intuit Inc. (NASDAQ:INTU)

Gateway Investment Advisers LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,587 shares of the software maker's stock after selling 1,091 shares during the quarter. Gateway Investment Advisers LLC's holdings in Intuit were worth $2,254,000 at the end of the most recent quarter.

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

Intuit Trading Down 0.5 %

NASDAQ:INTU traded down $3.14 on Friday, hitting $604.13. 2,830,783 shares of the stock were exchanged, compared to its average volume of 1,248,995. The stock has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 3.07 and a beta of 1.25. 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 company's 50-day moving average price is $646.09 and its 200 day moving average price is $637.06.

Intuit (NASDAQ:INTU - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.14 earnings per share. On average, equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

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

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was 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 $22,304,518.24. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 23,810 shares of the business's 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 of the company's stock, valued at $325,664.22. This represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INTU shares. Oppenheimer lifted their price objective on Intuit from $712.00 to $722.00 and gave the company an "outperform" rating in a report on Friday, November 22nd. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a research report on Wednesday. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $726.53.

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.