Chesley Taft & Associates LLC Sells 80 Shares of Intuit Inc. (NASDAQ:INTU)

Chesley Taft & Associates LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,300 shares of the software maker’s stock after selling 80 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Intuit were worth $4,745,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of INTU. Norges Bank acquired a new position in Intuit in the fourth quarter worth $2,101,848,000. Wellington Management Group LLP boosted its stake in Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after purchasing an additional 2,336,654 shares in the last quarter. Lone Pine Capital LLC acquired a new position in Intuit in the fourth quarter worth $467,852,000. Parnassus Investments LLC boosted its stake in Intuit by 119.0% in the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after purchasing an additional 727,185 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock valued at $295,609,000 after acquiring an additional 472,172 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total value of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 1,415 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at approximately $1,409,880.56. The disclosure for this sale can be found here. Insiders have sold a total of 193,937 shares of company stock worth $113,123,232 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INTU. Morgan Stanley upped their price target on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Monday, May 27th. UBS Group increased their target price on Intuit from $625.00 to $670.00 and gave the company a “neutral” rating in a research note on Monday, May 20th. Jefferies Financial Group reissued a “buy” rating and issued a $770.00 target price on shares of Intuit in a research note on Thursday, June 13th. Finally, KeyCorp increased their target price on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Five analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $679.41.

Intuit Stock Up 2.2 %

NASDAQ INTU traded up $13.96 during trading hours on Thursday, hitting $651.44. 1,478,025 shares of the company traded hands, compared to its average volume of 1,347,828. The stock has a market capitalization of $182.11 billion, a price-to-earnings ratio of 60.08, a P/E/G ratio of 3.61 and a beta of 1.21. The business’s 50-day moving average is $616.71 and its 200-day moving average is $627.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. Intuit Inc. has a twelve month low of $444.19 and a twelve month high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. During the same quarter last year, the company earned $7.80 EPS. The company’s revenue was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 dividend on an annualized basis and a yield of 0.55%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.