Intuit Inc. (NASDAQ:INTU) Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 924 shares of the software maker’s stock after selling 33 shares during the quarter. Traynor Capital Management Inc.’s holdings in Intuit were worth $581,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Thrivent Financial for Lutherans raised its stake in Intuit by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 14,345 shares of the software maker’s stock valued at $9,427,000 after purchasing an additional 186 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Intuit by 14.9% during the second quarter. EverSource Wealth Advisors LLC now owns 525 shares of the software maker’s stock valued at $340,000 after buying an additional 68 shares during the period. Public Sector Pension Investment Board boosted its position in Intuit by 71.9% during the second quarter. Public Sector Pension Investment Board now owns 10,717 shares of the software maker’s stock worth $7,043,000 after acquiring an additional 4,483 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new stake in Intuit in the 2nd quarter worth approximately $201,000. Finally, Insigneo Advisory Services LLC grew its stake in Intuit by 27.7% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,580 shares of the software maker’s stock worth $2,159,000 after acquiring an additional 777 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 0.4 %

NASDAQ:INTU opened at $611.68 on Thursday. The stock has a market cap of $171.22 billion, a price-to-earnings ratio of 59.39, a price-to-earnings-growth ratio of 3.00 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year 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 50-day simple moving average is $642.42 and its 200 day simple moving average is $635.95.

Intuit (NASDAQ:INTU) last released 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. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. As a group, sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is 40.39%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus reduced 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. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Barclays lowered their target price on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % 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 three months. 2.68% of the stock is owned by insiders.

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.