Legacy Bridge LLC Has $491,000 Position in Intuit Inc. (NASDAQ:INTU)

Legacy Bridge LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782 shares of the software maker’s stock after selling 20 shares during the period. Legacy Bridge LLC’s holdings in Intuit were worth $491,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of INTU. International Assets Investment Management LLC lifted its holdings in shares of Intuit by 68,404.7% during the 3rd quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after acquiring an additional 483,621 shares during the period. Holocene Advisors LP lifted its stake in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. State Street Corp increased its stake in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in shares of Intuit by 21.3% in the 2nd quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker’s stock valued at $633,766,000 after purchasing an additional 169,190 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction that occurred on 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 owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last three months. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the topic of several research analyst reports. 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. Morgan Stanley lifted their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Scotiabank started coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price objective for the company. 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 research note on Wednesday, January 15th. Finally, StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

Intuit Trading Up 1.4 %

NASDAQ INTU opened at $606.62 on Tuesday. 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 market capitalization of $169.81 billion, a P/E ratio of 58.90, a PEG ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The business has a fifty day simple moving average of $636.69 and a 200 day simple moving average of $635.00.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

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.