Intuit Inc. (NASDAQ:INTU) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 292,336 shares of the software maker’s stock after selling 16,870 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Intuit worth $182,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. NewSquare Capital LLC acquired a new position in Intuit in the third quarter valued at approximately $25,000. Cape Investment Advisory Inc. acquired a new position in Intuit in the third quarter valued at approximately $26,000. MCF Advisors LLC boosted its holdings in Intuit by 119.0% in the fourth quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after purchasing an additional 25 shares in the last quarter. Steward Financial Group LLC boosted its holdings in Intuit by 50.0% in the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after purchasing an additional 20 shares in the last quarter. Finally, Aspire Private Capital LLC boosted its holdings in Intuit by 144.4% in the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the sale, the executive vice president now owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last quarter. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

INTU has been the subject of a number of research analyst reports. Oppenheimer upped their price target on Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Wells Fargo & Company upped their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. KeyCorp boosted their price objective on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Mizuho boosted their price objective on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $650.23.

Intuit Price Performance

Intuit stock traded up $10.16 during trading hours on Friday, hitting $636.55. The stock had a trading volume of 1,192,496 shares, compared to its average volume of 1,208,945. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $178.23 billion, a price-to-earnings ratio of 64.95, a PEG ratio of 3.81 and a beta of 1.21. Intuit Inc. has a 1-year low of $400.22 and a 1-year high of $671.01. The stock’s fifty day moving average is $640.26 and its two-hundred day moving average is $602.74.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to analyst estimates of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. Intuit’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s payout ratio is currently 36.73%.

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.