Virtue Capital Management LLC Sells 129 Shares of Intuit Inc. (NASDAQ:INTU)

Virtue Capital Management LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 6.7% during the third quarter, Holdings Channel reports. The fund owned 1,796 shares of the software maker’s stock after selling 129 shares during the period. Virtue Capital Management LLC’s holdings in Intuit were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. LGT Financial Advisors LLC acquired a new stake in shares of Intuit during the 2nd quarter worth about $25,000. Cultivar Capital Inc. acquired a new stake in Intuit during the second quarter worth approximately $26,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Intuit in the third quarter valued at approximately $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit during the second quarter worth approximately $35,000. 83.66% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares of the company’s stock, valued at $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,032 shares of company stock valued at $76,314,242. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Susquehanna restated a “positive” rating and issued a $757.00 price target on shares of Intuit in a research note on Friday, August 16th. Morgan Stanley raised their price target on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Oppenheimer boosted their price objective on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a report on Wednesday, December 4th. Finally, Bank of America boosted their price target on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $737.44.

Intuit Stock Up 0.1 %

INTU stock opened at $647.07 on Wednesday. The stock has a market capitalization of $181.13 billion, a P/E ratio of 62.82, a price-to-earnings-growth ratio of 3.19 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $635.59 and a 200-day moving average price of $630.43. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. As a group, equities research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $4.16 annualized dividend and a yield of 0.64%. Intuit’s dividend payout ratio is presently 40.39%.

Intuit 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.