Intuit Inc. (NASDAQ:INTU) Shares Sold by True North Advisors LLC

True North Advisors LLC decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 430 shares of the software maker’s stock after selling 63 shares during the quarter. True North Advisors LLC’s holdings in Intuit were worth $280,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Intuit during the 4th quarter worth approximately $2,101,848,000. Wellington Management Group LLP grew its position in Intuit by 173.0% during the 4th quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC purchased a new position in Intuit during the 4th quarter worth approximately $467,852,000. Parnassus Investments LLC grew its position in Intuit by 119.0% during the 4th quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Intuit by 60,534.9% during the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 1,415 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 27,309 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $593.16, for a total transaction of $16,198,606.44. Following the completion of the transaction, the insider now directly owns 6,524,412 shares in the company, valued at $3,870,020,221.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 193,937 shares of company stock valued at $113,123,232. 2.90% of the stock is currently owned by insiders.

Intuit Price Performance

Shares of INTU traded down $5.55 during mid-day trading on Monday, hitting $626.60. 380,779 shares of the company traded hands, compared to its average volume of 1,338,218. Intuit Inc. has a one year low of $444.19 and a one year high of $676.62. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $615.61 and a 200 day moving average of $626.42. The stock has a market capitalization of $175.17 billion, a price-to-earnings ratio of 58.32, a PEG ratio of 3.52 and a beta of 1.21.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, beating the consensus estimate of $8.12 by $1.76. Intuit had a net margin of 19.43% and a return on equity of 18.61%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same period in the prior year, the firm earned $7.80 earnings per share. Intuit’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts expect that Intuit Inc. will post 11.72 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a $0.90 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. Intuit’s payout ratio is presently 33.21%.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research reports. Susquehanna decreased their target price on shares of Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a research note on Friday, May 24th. Stifel Nicolaus decreased their target price on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a research note on Friday, May 24th. KeyCorp lifted their price objective on shares of Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. UBS Group lifted their price objective on shares of Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $679.41.

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.