Intuit Inc. (NASDAQ:INTU) Shares Sold by Makena Capital Management LLC

Makena Capital Management LLC trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 36.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,396 shares of the software maker’s stock after selling 8,656 shares during the quarter. Intuit comprises 2.3% of Makena Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Makena Capital Management LLC’s holdings in Intuit were worth $10,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LGT Financial Advisors LLC purchased a new position in Intuit during the second quarter worth 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 purchased a new position in shares of Intuit during the 2nd quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Intuit in the 2nd quarter valued at approximately $35,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Intuit in the second quarter valued at approximately $39,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $636.83 on Friday. The business has a fifty day simple moving average of $635.45 and a 200-day simple moving average of $630.99. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a market cap of $178.02 billion, a P/E ratio of 58.75, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.14. Intuit had a net margin of 18.19% and a return on equity of 18.64%. The company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. Equities research analysts forecast that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 annualized dividend and a dividend yield of 0.65%. Intuit’s payout ratio is currently 38.38%.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 30,159 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $642.36, for a total value of $19,372,935.24. Following the transaction, the executive vice president now directly owns 52,038 shares in the company, valued at approximately $33,427,129.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Eve B. Burton sold 2,988 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 30,159 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $642.36, for a total value of $19,372,935.24. Following the completion of the sale, the executive vice president now owns 52,038 shares of the company’s stock, valued at $33,427,129.68. The disclosure for this sale can be found here. Insiders sold a total of 52,548 shares of company stock worth $33,604,124 in the last ninety days. Insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. Susquehanna reaffirmed a “positive” rating and set a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Citigroup increased their target price on shares of Intuit from $727.00 to $750.00 and gave the company a “buy” rating in a report on Friday, June 28th. Jefferies Financial Group boosted their price target on Intuit from $770.00 to $790.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley downgraded Intuit from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus upped their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus target price of $720.37.

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.