Exchange Traded Concepts LLC Cuts Position in Intuit Inc. (NASDAQ:INTU)

Exchange Traded Concepts LLC lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 79.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,744 shares of the software maker’s stock after selling 14,462 shares during the period. Exchange Traded Concepts LLC’s holdings in Intuit were worth $2,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. Northwest Investment Counselors LLC bought a new stake in shares of Intuit in the 3rd quarter worth approximately $27,000. Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter worth approximately $29,000. Denver PWM LLC bought a new stake in shares of Intuit in the 3rd quarter worth approximately $32,000. Dunhill Financial LLC raised its holdings in shares of Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares during the period. Finally, Groupama Asset Managment raised its holdings in shares of Intuit by 10.6% in the 3rd quarter. Groupama Asset Managment now owns 7,517 shares of the software maker’s stock worth $47,000 after purchasing an additional 720 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.1 %

Shares of NASDAQ:INTU opened at $597.95 on Monday. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The firm has a fifty day moving average of $636.69 and a 200 day moving average of $634.99. The firm has a market capitalization of $167.38 billion, a PE ratio of 58.05, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit’s payout ratio is 40.39%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the company’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $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. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 over the last three months. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of a number of research reports. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a report on Wednesday, January 15th. Finally, Scotiabank initiated coverage on shares of Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.