Invesco LLC Sells 514 Shares of Intuit Inc. (NASDAQ:INTU)

Invesco LLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 22.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764 shares of the software maker’s stock after selling 514 shares during the period. Invesco LLC’s holdings in Intuit were worth $1,109,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of INTU. Brown Financial Advisors increased its holdings in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after buying an additional 15 shares during the last quarter. Truvestments Capital LLC grew its position in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after acquiring an additional 16 shares during the period. CVA Family Office LLC increased its stake in shares of Intuit by 3.3% during the 3rd quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock worth $330,000 after purchasing an additional 17 shares during the last quarter. Chris Bulman Inc raised its holdings in shares of Intuit by 1.1% in the 3rd quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after purchasing an additional 17 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its stake in Intuit by 1.8% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 973 shares of the software maker’s stock valued at $604,000 after purchasing an additional 17 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Morgan Stanley increased their price target on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Oppenheimer increased their target price on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upped their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $726.53.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $6.44 during mid-day trading on Wednesday, reaching $594.22. 157,287 shares of the company’s stock were exchanged, compared to its average volume of 1,656,947. The firm has a 50-day moving average price of $634.37 and a two-hundred day moving average price of $634.55. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $166.33 billion, a price-to-earnings ratio of 57.63, a price-to-earnings-growth ratio of 3.01 and a beta of 1.25. Intuit Inc. has a 52 week low of $557.29 and a 52 week high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 EPS. Analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, January 10th. Intuit’s payout ratio is 40.39%.

Insider Activity

In other news, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandeep Aujla sold 1,300 shares of Intuit stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $626.42, for a total transaction of $814,346.00. Following the sale, the chief financial officer now directly owns 644 shares of the company’s stock, valued at $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock worth $188,992,187 in the last three months. Corporate insiders own 2.68% of the company’s stock.

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.