Intuit Inc. (NASDAQ:INTU) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 7.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,644 shares of the software maker’s stock after selling 2,345 shares during the quarter. Van ECK Associates Corp’s holdings in Intuit were worth $17,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Desjardins Global Asset Management Inc. lifted its stake in shares of Intuit by 1.4% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,181 shares of the software maker’s stock worth $738,000 after acquiring an additional 16 shares during the period. GAM Holding AG raised its stake in shares of Intuit by 0.3% in the 4th quarter. GAM Holding AG now owns 5,873 shares of the software maker’s stock worth $3,671,000 after buying an additional 17 shares in the last quarter. Janiczek Wealth Management LLC lifted its holdings in shares of Intuit by 2.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 716 shares of the software maker’s stock valued at $448,000 after buying an additional 17 shares during the period. Clear Harbor Asset Management LLC boosted its stake in Intuit by 0.4% during the fourth quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock valued at $3,027,000 after buying an additional 18 shares in the last quarter. Finally, Glenview Trust co boosted its stake in Intuit by 1.9% during the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock valued at $527,000 after buying an additional 19 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INTU. Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Susquehanna upped their target price on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a report on Friday, February 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $700.00 price target on shares of Intuit in a research note on Tuesday, March 26th. Stifel Nicolaus boosted their price objective on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, KeyCorp raised their target price on shares of Intuit from $700.00 to $720.00 and gave the stock an “overweight” rating in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Intuit Stock Down 1.7 %

INTU opened at $615.20 on Thursday. The company has a market capitalization of $172.26 billion, a PE ratio of 62.78, a price-to-earnings-growth ratio of 3.81 and a beta of 1.22. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The business has a 50-day moving average of $639.05 and a 200-day moving average of $605.00.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data 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. The firm had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. Equities research analysts forecast that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio is presently 36.73%.

Insiders Place Their Bets

In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was 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 owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of the company’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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold 4,717 shares of company stock valued at $3,117,156 over the last three months. 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.