Sendero Wealth Management LLC Trims Holdings in Intuit Inc. (NASDAQ:INTU)

Sendero Wealth Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,735 shares of the software maker's stock after selling 620 shares during the period. Sendero Wealth Management LLC's holdings in Intuit were worth $4,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in INTU. American Century Companies Inc. boosted its position in Intuit by 10.6% during the 2nd quarter. American Century Companies Inc. now owns 51,454 shares of the software maker's stock valued at $33,816,000 after acquiring an additional 4,913 shares in the last quarter. One Capital Management LLC purchased a new position in Intuit in the second quarter valued at about $202,000. Mutual of America Capital Management LLC grew its stake in Intuit by 5.2% in the second quarter. Mutual of America Capital Management LLC now owns 39,681 shares of the software maker's stock valued at $26,079,000 after purchasing an additional 1,963 shares during the last quarter. Bradley Foster & Sargent Inc. CT raised its holdings in Intuit by 2.8% in the second quarter. Bradley Foster & Sargent Inc. CT now owns 106,028 shares of the software maker's stock worth $69,683,000 after purchasing an additional 2,937 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its position in shares of Intuit by 20.1% during the second quarter. E Fund Management Co. Ltd. now owns 6,960 shares of the software maker's stock valued at $4,574,000 after buying an additional 1,166 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Intuit Price Performance

NASDAQ INTU traded down $14.16 during mid-day trading on Thursday, hitting $607.29. The stock had a trading volume of 2,832,772 shares, compared to its average volume of 1,623,347. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm's 50 day moving average is $649.03 and its 200 day moving average is $637.60. The stock has a market capitalization of $169.99 billion, a price-to-earnings ratio of 58.96, a PEG ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.14 earnings per share. The company's revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on INTU shares. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Wednesday. Royal Bank of Canada reissued an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research note on Friday, November 22nd. Morgan Stanley increased their price target on Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $726.53.

Insider Activity at Intuit

In other Intuit news, EVP Mark P. Notarainni sold 3,649 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. The trade was a 99.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the 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 of the company's stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 293,014 shares of company stock valued at $188,992,187. 2.68% of the stock is currently owned by 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.