Regent Peak Wealth Advisors LLC Cuts Holdings in Intuit Inc. (NASDAQ:INTU)

Regent Peak Wealth Advisors LLC reduced its position in Intuit Inc. (NASDAQ:INTU) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,213 shares of the software maker’s stock after selling 19 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Intuit were worth $762,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in shares of Intuit during the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the third quarter worth $27,000. Denver PWM LLC bought a new position in Intuit during the third quarter valued at $32,000. Dunhill Financial LLC lifted its position in Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares during the last quarter. Finally, Trifecta Capital Advisors LLC grew its stake in shares of Intuit by 145.8% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 59 shares of the software maker’s stock worth $39,000 after buying an additional 35 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on INTU shares. Stifel Nicolaus lowered their price target on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. JPMorgan Chase & Co. raised their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Intuit Stock Down 1.4 %

NASDAQ INTU traded down $8.86 on Tuesday, reaching $616.30. 381,783 shares of the stock traded hands, compared to its average volume of 950,711. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average price of $649.30 and a 200-day moving average price of $638.45. The company has a market cap of $172.51 billion, a price-to-earnings ratio of 59.83, a PEG ratio of 3.24 and a beta of 1.25.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during 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 firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 earnings per share. As a group, research analysts forecast that Intuit Inc. will post 14.07 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio (DPR) is 40.39%.

Insiders Place Their Bets

In related news, EVP Mark P. Notarainni sold 363 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at $11,941.50. This represents a 95.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 289,848 shares of company stock worth $187,041,365 over the last 90 days. Company insiders own 2.68% of the company’s stock.

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.