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

Novare Capital Management LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 3,115 shares of the software maker’s stock after selling 40 shares during the period. Novare Capital Management LLC’s holdings in Intuit were worth $1,958,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in INTU. AQR Capital Management LLC grew its holdings in shares of Intuit by 37.3% during the 2nd quarter. AQR Capital Management LLC now owns 50,487 shares of the software maker’s stock worth $32,954,000 after purchasing an additional 13,721 shares during the period. Oliver Lagore Vanvalin Investment Group grew its stake in Intuit by 29.8% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 3,119 shares of the software maker’s stock worth $2,050,000 after buying an additional 716 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Intuit by 3.1% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 12,969 shares of the software maker’s stock worth $8,523,000 after acquiring an additional 396 shares in the last quarter. Kathmere Capital Management LLC raised its stake in shares of Intuit by 9.5% in the 2nd quarter. Kathmere Capital Management LLC now owns 436 shares of the software maker’s stock valued at $287,000 after acquiring an additional 38 shares during the period. Finally, Ascent Group LLC lifted its holdings in shares of Intuit by 6.8% during the 2nd quarter. Ascent Group LLC now owns 4,803 shares of the software maker’s stock valued at $3,157,000 after acquiring an additional 307 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTU has been the subject of several recent research reports. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Morgan Stanley increased their target price on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price on the stock. in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $726.53.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the 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 sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the business’s stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 293,014 shares of company stock valued at $188,992,187. Company insiders own 2.68% of the company’s stock.

Intuit Stock Down 0.1 %

Shares of Intuit stock opened at $597.95 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $636.69 and a 200 day moving average price of $635.10. Intuit Inc. has a fifty-two week low of $557.29 and a fifty-two week high of $714.78. The firm has a market cap of $167.38 billion, a P/E ratio of 58.05, a P/E/G ratio of 3.01 and a beta of 1.25.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the business earned $1.14 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. 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 payout ratio is currently 40.39%.

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.