Tranquility Partners LLC Sells 95 Shares of Intuit Inc. (NASDAQ:INTU)

Tranquility Partners LLC cut its position in Intuit Inc. (NASDAQ:INTU) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 529 shares of the software maker’s stock after selling 95 shares during the quarter. Tranquility Partners LLC’s holdings in Intuit were worth $331,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INTU. Norges Bank bought a new position in Intuit in the fourth quarter valued at about $1,173,468,000. Moneta Group Investment Advisors LLC raised its position in shares of Intuit by 118,345.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,088,194 shares of the software maker’s stock worth $812,767,000 after acquiring an additional 2,086,431 shares during the last quarter. Morgan Stanley raised its position in shares of Intuit by 42.5% during the fourth quarter. Morgan Stanley now owns 3,444,913 shares of the software maker’s stock worth $1,340,830,000 after acquiring an additional 1,027,752 shares during the last quarter. Parnassus Investments LLC raised its position in shares of Intuit by 42,268.5% during the third quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock worth $312,161,000 after acquiring an additional 609,512 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Intuit by 61.5% during the third quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after acquiring an additional 514,259 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Susquehanna raised their price objective on Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Mizuho lifted their target price on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Evercore ISI lifted their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Barclays lifted their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Oppenheimer lifted their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average target price of $645.00.

Intuit Price Performance

Intuit stock traded down $0.37 during midday trading on Thursday, hitting $612.84. 103,800 shares of the company’s stock were exchanged, compared to its average volume of 1,234,467. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a 52-week low of $400.22 and a 52-week high of $671.01. The company has a market cap of $171.60 billion, a P/E ratio of 62.57, a PEG ratio of 3.72 and a beta of 1.21. The stock has a 50-day moving average price of $644.88 and a two-hundred day moving average price of $598.39.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The firm’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Tuesday, April 9th. Intuit’s dividend payout ratio is currently 36.73%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the sale, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The disclosure for this sale can be found here. Insiders sold 4,717 shares of company stock worth $3,117,156 over the last quarter. 2.90% of the stock is currently owned by insiders.

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.