Invesco LLC Sells 514 Shares of Intuit Inc. (NASDAQ:INTU)

Invesco LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 22.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,764 shares of the software maker's stock after selling 514 shares during the period. Invesco LLC's holdings in Intuit were worth $1,109,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Orrstown Financial Services Inc. increased its holdings in Intuit by 9.3% in the fourth quarter. Orrstown Financial Services Inc. now owns 469 shares of the software maker's stock worth $295,000 after buying an additional 40 shares during the last quarter. Strategic Blueprint LLC raised its position in Intuit by 3.6% in the fourth quarter. Strategic Blueprint LLC now owns 1,209 shares of the software maker's stock worth $760,000 after purchasing an additional 42 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Intuit by 10.2% during the fourth quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker's stock valued at $13,906,000 after acquiring an additional 2,055 shares during the period. R Squared Ltd bought a new stake in Intuit during the 4th quarter worth approximately $25,000. Finally, Mayflower Financial Advisors LLC grew its holdings in Intuit by 29.3% during the 4th quarter. Mayflower Financial Advisors LLC now owns 476 shares of the software maker's stock worth $299,000 after acquiring an additional 108 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

INTU has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an "outperform" rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley increased 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. Scotiabank started coverage on Intuit in a research report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 target price on the stock. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Finally, Oppenheimer upped their price objective on Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of "Moderate Buy" and a consensus target price of $726.53.

Insider Activity

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

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $11.61 on Thursday, reaching $604.60. 1,219,239 shares of the company's stock were exchanged, compared to its average volume of 1,706,924. 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 company has a market capitalization of $169.24 billion, a price-to-earnings ratio of 58.70, a PEG ratio of 3.01 and a beta of 1.25. The company has a fifty day moving average of $633.22 and a 200-day moving average of $634.26. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) 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 business had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.14 billion. During the same period in the prior year, the company earned $1.14 EPS. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts predict that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit's dividend payout ratio is currently 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.