Intuit Inc. (NASDAQ:INTU) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,942 shares of the software maker’s stock after selling 762 shares during the quarter. Intuit makes up 5.7% of Baxter Bros Inc.’s holdings, making the stock its 3rd biggest holding. Baxter Bros Inc.’s holdings in Intuit were worth $40,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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. Wellington Management Group LLP raised its holdings in Intuit by 61.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Intuit by 60,534.9% in the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Intuit by 9.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after purchasing an additional 270,414 shares during the last quarter. Finally, FMR LLC increased its position in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after buying an additional 266,803 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

Shares of INTU stock traded up $15.23 during trading on Friday, hitting $629.27. The company’s stock had a trading volume of 1,109,512 shares, compared to its average volume of 1,209,705. The business has a fifty day moving average of $637.56 and a 200-day moving average of $605.68. The company has a market cap of $176.20 billion, a PE ratio of 64.21, a P/E/G ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. As a group, research analysts anticipate that Intuit Inc. will post 11.27 earnings per share for the current year.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. Intuit’s payout ratio is currently 36.73%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTU. Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. increased their price target on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a report on Friday, February 23rd. Susquehanna lifted their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Oppenheimer boosted their target price on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Finally, Stifel Nicolaus raised their price target on shares of Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

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.