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

Fourpath Capital Management LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,362 shares of the software maker’s stock after selling 117 shares during the quarter. Fourpath Capital Management LLC’s holdings in Intuit were worth $3,906,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTU. Brighton Jones LLC lifted its holdings in shares of Intuit by 61.3% during the fourth quarter. Brighton Jones LLC now owns 3,552 shares of the software maker’s stock worth $2,233,000 after purchasing an additional 1,350 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Intuit during the fourth quarter worth about $104,278,000. Revolve Wealth Partners LLC lifted its holdings in shares of Intuit by 145.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 813 shares of the software maker’s stock worth $511,000 after purchasing an additional 482 shares during the period. Empowered Funds LLC raised its position in Intuit by 26.4% during the fourth quarter. Empowered Funds LLC now owns 7,021 shares of the software maker’s stock valued at $4,413,000 after acquiring an additional 1,465 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in Intuit by 62.8% during the fourth quarter. Kestra Private Wealth Services LLC now owns 7,409 shares of the software maker’s stock valued at $4,657,000 after acquiring an additional 2,858 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Citigroup reiterated a “buy” rating and set a $789.00 price target (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. UBS Group set a $750.00 price target on Intuit and gave the company a “neutral” rating in a research report on Friday, May 23rd. HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price target on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $785.33.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 469 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at $13,775. The trade was a 96.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,592 shares of company stock valued at $165,325,437 over the last quarter. Company insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $764.38 on Tuesday. The firm has a market capitalization of $213.22 billion, a P/E ratio of 74.21, a PEG ratio of 2.85 and a beta of 1.28. The stock has a fifty day moving average price of $649.11 and a 200 day moving average price of $626.71. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $773.45. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the firm posted $9.88 earnings per share. The business’s quarterly revenue was up 15.1% compared to the same quarter last year. Equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.77%.

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.