Intuit Inc. (NASDAQ:INTU) Shares Sold by First Affirmative Financial Network

First Affirmative Financial Network trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,129 shares of the software maker’s stock after selling 91 shares during the quarter. First Affirmative Financial Network’s holdings in Intuit were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in INTU. Strategic Planning Group LLC grew its stake in Intuit by 3.5% during the 4th quarter. Strategic Planning Group LLC now owns 6,485 shares of the software maker’s stock worth $4,076,000 after buying an additional 219 shares during the last quarter. Orrstown Financial Services Inc. boosted its holdings in shares of Intuit by 9.3% during the fourth quarter. Orrstown Financial Services Inc. now owns 469 shares of the software maker’s stock valued at $295,000 after acquiring an additional 40 shares during the period. Strategic Blueprint LLC grew its position in shares of Intuit by 3.6% during the fourth quarter. Strategic Blueprint LLC now owns 1,209 shares of the software maker’s stock worth $760,000 after acquiring an additional 42 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of Intuit by 10.2% in the 4th quarter. Hantz Financial Services Inc. now owns 22,126 shares of the software maker’s stock worth $13,906,000 after acquiring an additional 2,055 shares during the period. Finally, R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at about $25,000. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer increased their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Jefferies Financial Group raised their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus reduced their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity at Intuit

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at $325,664.22. The trade was a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Scott D. Cook sold 75,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Down 1.3 %

Shares of NASDAQ:INTU opened at $592.99 on Thursday. The stock has a market capitalization of $165.99 billion, a price-to-earnings ratio of 57.57, a PEG ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a 50 day moving average price of $634.37 and a 200 day moving average price of $634.55. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

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 the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $1.14 EPS. On average, research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

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