Old Port Advisors Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Old Port Advisors lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,051 shares of the software maker’s stock after selling 61 shares during the period. Old Port Advisors’ holdings in Intuit were worth $1,289,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Jackson Creek Investment Advisors LLC purchased a new stake in Intuit in the second quarter valued at approximately $392,000. Oregon Public Employees Retirement Fund raised its holdings in shares of Intuit by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 24,043 shares of the software maker’s stock worth $15,801,000 after purchasing an additional 95 shares during the last quarter. Founders Financial Securities LLC raised its holdings in shares of Intuit by 19.9% during the second quarter. Founders Financial Securities LLC now owns 862 shares of the software maker’s stock worth $567,000 after purchasing an additional 143 shares during the last quarter. First National Trust Co boosted its holdings in Intuit by 3.7% in the second quarter. First National Trust Co now owns 999 shares of the software maker’s stock valued at $657,000 after purchasing an additional 36 shares during the last quarter. Finally, Fortis Capital Advisors LLC grew its position in Intuit by 9.4% during the 2nd quarter. Fortis Capital Advisors LLC now owns 781 shares of the software maker’s stock worth $513,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Price Performance

INTU traded down $0.60 on Thursday, hitting $627.90. 246,901 shares of the company’s stock were exchanged, compared to its average volume of 1,378,204. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The stock has a market cap of $175.76 billion, a price-to-earnings ratio of 60.96, a P/E/G ratio of 3.24 and a beta of 1.24. 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 50-day moving average price of $648.25 and a 200-day moving average price of $637.90.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 earnings per share. As a group, equities analysts anticipate that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

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 0.66%. The ex-dividend date of this dividend is Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTU. JPMorgan Chase & Co. lifted their price target on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research note on Friday, December 20th. Oppenheimer increased their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, Morgan Stanley increased their target price on shares of Intuit from $685.00 to $730.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $737.44.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 3,649 shares of Intuit stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now owns 19 shares in the company, valued at approximately $12,286.92. This trade represents a 99.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 4,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $617.28, for a total value of $2,469,120.00. Following the transaction, the chief financial officer now owns 452 shares in the company, valued at $279,010.56. This trade represents a 89.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,814 shares of company stock worth $122,862,323. Company insiders own 2.68% of the company’s stock.

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.