AIA Group Ltd Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

AIA Group Ltd lowered its position in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 38.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,636 shares of the software maker’s stock after selling 1,009 shares during the quarter. AIA Group Ltd’s holdings in Intuit were worth $634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Atwood & Palmer Inc. lifted its position in Intuit by 225.0% during the second quarter. Atwood & Palmer Inc. now owns 65 shares of the software maker’s stock valued at $25,000 after buying an additional 45 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Intuit by 81.0% in the 2nd quarter. SRS Capital Advisors Inc. now owns 76 shares of the software maker’s stock worth $29,000 after purchasing an additional 34 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its position in shares of Intuit by 71.7% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 79 shares of the software maker’s stock worth $30,000 after purchasing an additional 33 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Intuit in the 3rd quarter worth about $49,000. Finally, Core Alternative Capital raised its position in shares of Intuit by 20.4% in the 2nd quarter. Core Alternative Capital now owns 130 shares of the software maker’s stock worth $50,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Insider Transactions at Intuit

In other news, CAO Lauren D. Hotz sold 400 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $416.01, for a total transaction of $166,404.00. Following the sale, the chief accounting officer now directly owns 2,067 shares of the company’s stock, valued at approximately $859,892.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James Alexander Chriss sold 1,545 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $407.89, for a total transaction of $630,190.05. Following the sale, the executive vice president now directly owns 344 shares of the company’s stock, valued at approximately $140,314.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Lauren D. Hotz sold 400 shares of the company’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $416.01, for a total value of $166,404.00. Following the sale, the chief accounting officer now directly owns 2,067 shares in the company, valued at $859,892.67. The disclosure for this sale can be found here. Insiders have sold 3,086 shares of company stock valued at $1,258,434 in the last ninety days. Corporate insiders own 3.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Intuit from $575.00 to $525.00 in a research report on Wednesday, November 30th. Evercore ISI decreased their target price on Intuit from $601.00 to $505.00 in a research report on Friday, September 30th. Stifel Nicolaus decreased their target price on Intuit from $525.00 to $475.00 and set a “buy” rating for the company in a research report on Friday, September 30th. Bank of America decreased their target price on Intuit from $500.00 to $475.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. Finally, Morgan Stanley decreased their target price on Intuit from $550.00 to $520.00 and set an “overweight” rating for the company in a research report on Tuesday, November 22nd. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and an average target price of $499.21.

Intuit Trading Down 2.1 %

INTU stock opened at $401.55 on Wednesday. Intuit Inc. has a 1-year low of $339.36 and a 1-year high of $579.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market capitalization of $112.80 billion, a price-to-earnings ratio of 61.12, a PEG ratio of 3.08 and a beta of 1.15. The business has a 50 day simple moving average of $392.80 and a two-hundred day simple moving average of $411.89.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings results on Tuesday, November 29th. The software maker reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.49. Intuit had a return on equity of 14.31% and a net margin of 14.10%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Research analysts anticipate that Intuit Inc. will post 8.99 EPS for the current fiscal year.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Tuesday, January 10th were issued a dividend of $0.78 per share. The ex-dividend date was Monday, January 9th. This represents a $3.12 annualized dividend and a dividend yield of 0.78%. Intuit’s dividend payout ratio (DPR) is 47.49%.

About Intuit

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Intuit, Inc engages in the provision of business and financial management solutions. It operates through the following segments: Small Business and Self-Employed, Consumer, Credit Karma, and ProConnect. The Small Business and Self-Employed segment offers QuickBooks financial and business management online services and desktop software, payroll solutions, payment processing solutions, and financing for small businesses.

See Also

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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