Mutual of America Capital Management LLC Trims Holdings in Intuit Inc. (NASDAQ:INTU)

Mutual of America Capital Management LLC cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,497 shares of the software maker's stock after selling 1,184 shares during the period. Mutual of America Capital Management LLC's holdings in Intuit were worth $23,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTU. LGT Financial Advisors LLC purchased a new position in Intuit during the 2nd quarter valued at about $25,000. Cultivar Capital Inc. purchased a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in Intuit in the 3rd quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC acquired a new stake in Intuit during the 2nd quarter valued at $35,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Trading Down 1.8 %

Shares of NASDAQ:INTU traded down $12.89 during trading on Friday, reaching $687.87. 1,799,379 shares of the stock were exchanged, compared to its average volume of 1,417,747. The firm's 50-day moving average price is $633.08 and its 200 day moving average price is $630.09. The firm has a market cap of $192.80 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 3.36 and a beta of 1.25. Intuit Inc. has a 12-month low of $552.68 and a 12-month high of $714.78. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Intuit (NASDAQ:INTU - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a net margin of 18.19% and a return on equity of 18.64%. Intuit's revenue for the quarter was up 17.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 14.05 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were paid a $1.04 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.60%. This is a positive change from Intuit's previous quarterly dividend of $0.90. Intuit's dividend payout ratio (DPR) is 39.81%.

Analyst Ratings Changes

INTU has been the topic of several recent research reports. Bank of America upped their price objective on Intuit from $730.00 to $780.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. Barclays upped their target price on shares of Intuit from $740.00 to $800.00 and gave the company an "overweight" rating in a report on Friday. Jefferies Financial Group lifted their price target on shares of Intuit from $770.00 to $790.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. StockNews.com raised shares of Intuit from a "hold" rating to a "buy" rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus raised their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and an average price target of $739.24.

Insider Activity at Intuit

In other news, EVP Kerry J. Mclean sold 11,079 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $15,752,985.01. This represents a 30.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total transaction of $535,327.86. Following the sale, the chief financial officer now directly owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by company insiders.

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.