Intuit Inc. (NASDAQ:INTU) Stock Holdings Lessened by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV trimmed its stake in Intuit Inc. (NASDAQ:INTU) by 25.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,794 shares of the software maker’s stock after selling 2,724 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Intuit were worth $4,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. LGT Financial Advisors LLC acquired a new position in Intuit in the second quarter worth approximately $25,000. Cultivar Capital Inc. acquired a new position in Intuit in the second quarter worth approximately $26,000. Fairway Wealth LLC acquired a new position in Intuit in the second quarter worth approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Intuit in the second quarter worth approximately $35,000. Finally, J.Safra Asset Management Corp acquired a new position in Intuit in the second quarter worth approximately $39,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the topic of several analyst reports. Royal Bank of Canada initiated coverage on Intuit in a report on Wednesday, July 3rd. They set an “outperform” rating and a $760.00 price target on the stock. Jefferies Financial Group increased their price target on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Stifel Nicolaus increased their price target on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Bank of America increased their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $735.71.

Intuit Stock Down 0.6 %

INTU opened at $603.81 on Friday. Intuit Inc. has a fifty-two week low of $473.56 and a fifty-two week high of $676.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm’s fifty day moving average price is $633.29 and its two-hundred day moving average price is $629.73. The company has a market capitalization of $168.79 billion, a P/E ratio of 55.70, a P/E/G ratio of 3.13 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping 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 firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The business’s revenue was up 17.4% compared to the same quarter last year. On average, analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, October 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 38.38%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Scott D. Cook sold 2,461 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $637.19, for a total value of $1,568,124.59. Following the sale, the insider now owns 6,453,105 shares in the company, valued at approximately $4,111,853,974.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total transaction of $6,997,607.19. Following the completion of the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $15,752,985.01. The disclosure for this sale can be found here. Insiders have sold 51,297 shares of company stock worth $32,750,926 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

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.