Invesco LLC Sells 514 Shares of Intuit Inc. (NASDAQ:INTU)

Invesco LLC reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 22.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,764 shares of the software maker’s stock after selling 514 shares during the quarter. Invesco LLC’s holdings in Intuit were worth $1,109,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in shares of Intuit during the fourth quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Intuit during the 3rd quarter valued at $27,000. Sugar Maple Asset Management LLC bought a new position in Intuit in the 4th quarter worth $29,000. Denver PWM LLC purchased a new stake in shares of Intuit in the 3rd quarter worth about $32,000. Finally, Dunhill Financial LLC boosted its stake in shares of Intuit by 110.3% during the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Intuit stock traded down $6.44 during trading on Wednesday, reaching $594.22. The company had a trading volume of 157,287 shares, compared to its average volume of 1,656,947. The firm has a market capitalization of $166.33 billion, a price-to-earnings ratio of 57.63, a price-to-earnings-growth ratio of 3.01 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’s 50-day simple moving average is $634.37 and its 200 day simple moving average is $634.55. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data 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 analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 EPS. Sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

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

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the 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 transaction, the insider now owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This represents a 41.23 % 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 valued at $188,992,187 over the last 90 days. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Barclays reduced their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $726.53.

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.