Ocean Capital Management LLC Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Ocean Capital Management LLC decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,789 shares of the software maker’s stock after selling 321 shares during the period. Intuit makes up approximately 1.5% of Ocean Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Ocean Capital Management LLC’s holdings in Intuit were worth $3,618,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC acquired a new position in Intuit during the 3rd quarter valued at approximately $25,000. Cape Investment Advisory Inc. purchased a new stake in shares of Intuit during the third quarter valued at $26,000. Steward Financial Group LLC increased its position in shares of Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares during the period. Aspire Private Capital LLC raised its stake in Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after acquiring an additional 39 shares during the last quarter. Finally, BluePath Capital Management LLC purchased a new position in Intuit in the 3rd quarter worth $43,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer increased their price objective on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. KeyCorp increased their price target on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $700.00 price target on shares of Intuit in a research report on Tuesday. Barclays upped their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Susquehanna raised their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Trading Up 0.2 %

INTU stock opened at $650.00 on Friday. The business’s 50-day moving average is $646.73 and its 200 day moving average is $587.31. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01. The stock has a market cap of $182 billion, a price-to-earnings ratio of 66.33, a PEG ratio of 3.95 and a beta of 1.22. 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 issued its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. On average, sell-side analysts anticipate that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Wednesday, April 10th will be given a dividend of $0.90 per share. The ex-dividend date is Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s payout ratio is presently 36.73%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 14,772 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the transaction, the executive vice president now directly owns 50,030 shares in the company, valued at approximately $29,943,955.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the sale, the executive vice president now directly owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Laura A. Fennell sold 14,772 shares of the business’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $598.52, for a total transaction of $8,841,337.44. Following the completion of the transaction, the executive vice president now owns 50,030 shares in the company, valued at $29,943,955.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,260 shares of company stock worth $20,667,475. 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.