Sheets Smith Wealth Management Decreases Position in Intuit Inc. (NASDAQ:INTU)

Sheets Smith Wealth Management reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,947 shares of the software maker’s stock after selling 25 shares during the period. Intuit accounts for about 1.2% of Sheets Smith Wealth Management’s portfolio, making the stock its 16th largest holding. Sheets Smith Wealth Management’s holdings in Intuit were worth $10,023,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in INTU. Nordea Investment Management AB boosted its holdings in shares of Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Harvest Portfolios Group Inc. boosted its stake in Intuit by 5.4% during the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock worth $22,295,000 after buying an additional 1,853 shares during the last quarter. GAMMA Investing LLC grew its holdings in Intuit by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after buying an additional 968 shares in the last quarter. Retireful LLC acquired a new stake in shares of Intuit in the 3rd quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Intuit during the 3rd quarter worth $56,144,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on INTU shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Jefferies Financial Group raised their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Performance

NASDAQ:INTU opened at $609.41 on Wednesday. The firm has a market cap of $170.59 billion, a price-to-earnings ratio of 59.17, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm’s fifty day moving average price is $644.23 and its 200 day moving average price is $636.37.

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

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. Intuit’s payout ratio is currently 40.39%.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction dated Monday, November 25th. The shares were 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 approximately $4,093,595,351.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock valued at $188,992,187 in the last ninety days. 2.68% of the stock is currently owned by company insiders.

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.