Glen Eagle Advisors LLC Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Glen Eagle Advisors LLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 19.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 524 shares of the software maker’s stock after selling 123 shares during the quarter. Glen Eagle Advisors LLC’s holdings in Intuit were worth $325,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of INTU. Gemmer Asset Management LLC grew its stake in shares of Intuit by 3.7% during the second quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares during the last quarter. WASHINGTON TRUST Co grew its position in shares of Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after buying an additional 16 shares during the last quarter. Truvestments Capital LLC lifted its stake in Intuit by 1.5% in the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock worth $669,000 after acquiring an additional 16 shares during the period. PFG Investments LLC boosted its holdings in Intuit by 1.1% in the second quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock valued at $1,024,000 after acquiring an additional 17 shares in the last quarter. Finally, Plancorp LLC increased its position in Intuit by 2.0% during the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock valued at $579,000 after purchasing an additional 17 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the sale, the chief financial officer now directly owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 2,941 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the completion of the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. The trade was a 99.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,324 shares of company stock valued at $75,803,690 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.3 %

INTU stock opened at $646.47 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The stock has a market capitalization of $180.96 billion, a P/E ratio of 62.76, a P/E/G ratio of 3.23 and a beta of 1.24. The business has a fifty day moving average price of $635.08 and a 200-day moving average price of $630.82.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business earned $1.14 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts forecast that Intuit Inc. will post 14.07 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, January 9th. This represents a $4.16 annualized dividend and a dividend yield of 0.64%. Intuit’s payout ratio is 40.39%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Barclays cut their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley upped their price target on Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Bank of America raised their price objective on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. 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 target price on the stock. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and a consensus target price of $737.44.

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.