Wells Fargo & Company MN lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 41.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 857,118 shares of the software maker’s stock after selling 608,529 shares during the quarter. Wells Fargo & Company MN owned approximately 0.34% of Intuit worth $121,830,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Wetherby Asset Management Inc. increased its position in shares of Intuit by 0.4% during the 2nd quarter. Wetherby Asset Management Inc. now owns 7,040 shares of the software maker’s stock worth $935,000 after purchasing an additional 27 shares in the last quarter. Bank of Hawaii increased its position in Intuit by 1.2% in the 2nd quarter. Bank of Hawaii now owns 2,509 shares of the software maker’s stock valued at $333,000 after acquiring an additional 30 shares in the last quarter. TCI Wealth Advisors Inc. increased its position in Intuit by 0.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 5,592 shares of the software maker’s stock valued at $743,000 after acquiring an additional 36 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Intuit by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,084 shares of the software maker’s stock valued at $2,402,000 after acquiring an additional 59 shares in the last quarter. Finally, Financial Advisors Network Inc. increased its position in Intuit by 2.8% in the 2nd quarter. Financial Advisors Network Inc. now owns 2,740 shares of the software maker’s stock valued at $364,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 86.51% of the company’s stock.

In other news, CEO Brad D. Smith sold 110,496 shares of Intuit stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $151.40, for a total transaction of $16,729,094.40. Following the completion of the sale, the chief executive officer now owns 399,246 shares in the company, valued at approximately $60,445,844.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Scott D. Cook sold 183,333 shares of Intuit stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $141.16, for a total transaction of $25,879,286.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,097,555 shares of company stock valued at $160,825,842. 5.59% of the stock is owned by corporate insiders.

Several equities research analysts have weighed in on INTU shares. First Analysis upgraded shares of Intuit from an “underweight” rating to an “equal weight” rating and set a $128.00 price objective for the company in a research report on Wednesday, August 23rd. Credit Suisse Group restated an “outperform” rating and issued a $155.00 price objective (up previously from $150.00) on shares of Intuit in a research report on Wednesday, August 23rd. Deutsche Bank restated a “buy” rating and issued a $150.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Bank of America restated a “buy” rating and issued a $145.00 price objective on shares of Intuit in a research report on Wednesday, August 23rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $141.00 price objective on shares of Intuit in a research report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $152.89.

Shares of Intuit Inc. (NASDAQ:INTU) opened at $156.44 on Monday. Intuit Inc. has a 1 year low of $111.48 and a 1 year high of $158.90. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market cap of $39,993.89, a P/E ratio of 41.83, a PEG ratio of 2.82 and a beta of 1.18.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Monday, November 20th. The software maker reported $0.11 EPS for the quarter, topping the consensus estimate of ($0.19) by $0.30. Intuit had a net margin of 18.62% and a return on equity of 77.56%. The company had revenue of $886.00 million during the quarter, compared to analysts’ expectations of $855.74 million. During the same quarter in the previous year, the company earned $0.06 EPS. Intuit’s revenue was up 13.9% on a year-over-year basis. research analysts expect that Intuit Inc. will post 3.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, January 9th. Intuit’s dividend payout ratio is 41.38%.

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Intuit Profile

Intuit Inc is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. The Company operates through three segments: Small Business, Consumer Tax and ProConnect. The Small Business segment serves and advises small businesses and the accounting professionals, and includes QuickBooks financial and business management online services and desktop software, payroll solutions, and payment processing solutions.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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