Intuit Inc. (NASDAQ:INTU) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC decreased its stake in Intuit Inc. (NASDAQ:INTU) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,015 shares of the software maker’s stock after selling 2,209 shares during the period. MetLife Investment Management LLC’s holdings in Intuit were worth $52,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC increased its position in shares of Intuit by 2.9% in the third quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Legal & General Group Plc lifted its stake in Intuit by 1.0% during the second quarter. Legal & General Group Plc now owns 2,340,555 shares of the software maker’s stock worth $1,538,236,000 after purchasing an additional 23,995 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Intuit by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,688,445 shares of the software maker’s stock valued at $1,048,524,000 after buying an additional 26,914 shares during the period. Ameriprise Financial Inc. boosted its position in Intuit by 17.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after purchasing an additional 238,486 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Intuit by 4.2% during the second quarter. Principal Financial Group Inc. now owns 1,407,862 shares of the software maker’s stock valued at $925,262,000 after acquiring an additional 56,370 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Sandeep Aujla sold 775 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the transaction, the chief financial officer now owns 4,451 shares in the company, valued at approximately $2,676,430.81. The trade was a 14.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 2,988 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $649.87, for a total transaction of $1,941,811.56. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $35,200,125 over the last three months. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Susquehanna restated a “positive” rating and set a $757.00 price objective on shares of Intuit in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $737.44.

Intuit Stock Down 0.3 %

Shares of NASDAQ:INTU traded down $1.76 during midday trading on Wednesday, hitting $637.07. 83,702 shares of the stock were exchanged, compared to its average volume of 1,360,673. The company has a market capitalization of $178.41 billion, a PE ratio of 62.02, a P/E/G ratio of 3.14 and a beta of 1.25. Intuit Inc. has a 52-week low of $557.29 and a 52-week 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 business’s fifty day simple moving average is $634.46 and its two-hundred day simple moving average is $631.29.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results 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. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the business earned $1.14 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts predict that Intuit Inc. will post 14.05 earnings per share 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 issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, January 9th. Intuit’s dividend payout ratio is presently 40.39%.

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.