Intuit Inc. (INTU) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 452,460 shares of the software maker’s stock after selling 4,054 shares during the period. Alliancebernstein L.P.’s holdings in Intuit were worth $102,889,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Intuit by 5.2% in the second quarter. BlackRock Inc. now owns 17,394,902 shares of the software maker’s stock valued at $3,553,866,000 after purchasing an additional 866,776 shares in the last quarter. FMR LLC raised its holdings in shares of Intuit by 14.3% during the second quarter. FMR LLC now owns 10,343,136 shares of the software maker’s stock worth $2,113,155,000 after acquiring an additional 1,290,503 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new stake in shares of Intuit during the second quarter worth $810,956,000. OppenheimerFunds Inc. raised its holdings in shares of Intuit by 0.5% during the second quarter. OppenheimerFunds Inc. now owns 2,974,690 shares of the software maker’s stock worth $607,744,000 after acquiring an additional 16,086 shares in the last quarter. Finally, Morgan Stanley raised its holdings in shares of Intuit by 25.1% during the second quarter. Morgan Stanley now owns 2,623,888 shares of the software maker’s stock worth $536,074,000 after acquiring an additional 525,743 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Several analysts recently issued reports on INTU shares. Zacks Investment Research upgraded Intuit from a “hold” rating to a “buy” rating and set a $243.00 price objective for the company in a report on Tuesday, August 28th. Guggenheim started coverage on Intuit in a report on Tuesday, August 7th. They set a “buy” rating and a $250.00 price objective for the company. BidaskClub lowered Intuit from a “strong-buy” rating to a “buy” rating in a report on Friday, July 27th. Stifel Nicolaus increased their price objective on Intuit from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, August 24th. Finally, Argus increased their price objective on Intuit from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $221.88.

In other news, CEO Brad D. Smith sold 254,325 shares of the firm’s stock in a transaction dated Friday, September 14th. The stock was sold at an average price of $227.66, for a total value of $57,899,629.50. Following the sale, the chief executive officer now directly owns 415,445 shares of the company’s stock, valued at $94,580,208.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dennis D. Powell sold 4,554 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $215.05, for a total value of $979,337.70. Following the completion of the sale, the director now directly owns 4,083 shares in the company, valued at $878,049.15. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 622,236 shares of company stock worth $137,883,071. 5.59% of the stock is currently owned by company insiders.

NASDAQ INTU opened at $198.40 on Friday. Intuit Inc. has a fifty-two week low of $150.43 and a fifty-two week high of $231.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a market cap of $50.49 billion, a price-to-earnings ratio of 43.80, a P/E/G ratio of 2.23 and a beta of 1.19.

Intuit (NASDAQ:INTU) last posted its earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $971.45 million. Intuit had a return on equity of 56.35% and a net margin of 20.71%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.11 earnings per share. Analysts anticipate that Intuit Inc. will post 5.24 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Stockholders of record on Thursday, January 10th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Wednesday, January 9th. Intuit’s dividend payout ratio is currently 41.50%.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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