Swedbank AB Reduces Stake in Intuit Inc. (NASDAQ:INTU)

Swedbank AB reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 117,350 shares of the software maker's stock after selling 916 shares during the period. Swedbank AB's holdings in Intuit were worth $73,754,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Northwestern Mutual Wealth Management Co. boosted its position in shares of Intuit by 7.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 17,343 shares of the software maker's stock worth $11,396,000 after purchasing an additional 1,230 shares in the last quarter. 3Chopt Investment Partners LLC acquired a new stake in Intuit in the 2nd quarter worth approximately $348,000. Cetera Investment Advisers raised its holdings in shares of Intuit by 0.9% in the second quarter. Cetera Investment Advisers now owns 47,187 shares of the software maker's stock worth $31,012,000 after buying an additional 431 shares during the last quarter. Brown Financial Advisors purchased a new stake in shares of Intuit during the second quarter valued at $1,067,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Intuit in the 2nd quarter valued at $12,334,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares of the company's stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the company's stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last 90 days. 2.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

INTU has been the subject of several research analyst reports. StockNews.com upgraded Intuit from a "hold" rating to a "buy" rating in a research note on Thursday, January 23rd. Jefferies Financial Group upped their price target on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Morgan Stanley upped their target price on Intuit from $685.00 to $730.00 and gave the stock an "equal weight" rating in a research note on Friday, November 22nd. Barclays lowered their price target on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Finally, Scotiabank began coverage on shares of Intuit in a research report on Monday, November 18th. They issued a "sector perform" rating and a $700.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $726.53.

Intuit Trading Up 0.6 %

Shares of INTU stock traded up $3.51 on Thursday, hitting $596.50. 362,301 shares of the stock traded hands, compared to its average volume of 1,660,844. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market capitalization of $166.97 billion, a PE ratio of 57.91, a PEG ratio of 3.01 and a beta of 1.25. The firm's 50-day moving average price is $633.22 and its two-hundred day moving average price is $634.26. 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 (NASDAQ:INTU - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm 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%. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.14 EPS. As a group, analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were issued a $1.04 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit's dividend payout ratio (DPR) 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.