Huntington National Bank trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,192 shares of the software maker’s stock after selling 686 shares during the period. Huntington National Bank’s holdings in Intuit were worth $4,291,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTU. Ark Investment Management LLC bought a new position in Intuit during the second quarter valued at $2,276,000. HighTower Advisors LLC grew its holdings in Intuit by 30.9% during the second quarter. HighTower Advisors LLC now owns 10,901 shares of the software maker’s stock valued at $1,447,000 after purchasing an additional 2,576 shares during the period. Prudential PLC grew its holdings in Intuit by 66.3% during the second quarter. Prudential PLC now owns 4,822 shares of the software maker’s stock valued at $640,000 after purchasing an additional 1,922 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Intuit by 2.2% during the second quarter. The Manufacturers Life Insurance Company now owns 284,335 shares of the software maker’s stock valued at $37,763,000 after purchasing an additional 6,193 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Intuit by 60.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,526 shares of the software maker’s stock valued at $1,929,000 after purchasing an additional 5,460 shares during the period. 86.58% of the stock is owned by institutional investors and hedge funds.
Shares of Intuit Inc. (NASDAQ:INTU) opened at $160.87 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.67 and a quick ratio of 0.67. Intuit Inc. has a 12-month low of $111.90 and a 12-month high of $170.59. The stock has a market capitalization of $40,303.21, a price-to-earnings ratio of 42.67, a P/E/G ratio of 2.84 and a beta of 1.19.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Wednesday, January 10th were given a $0.39 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.97%. Intuit’s dividend payout ratio (DPR) is presently 41.38%.
In related news, EVP Henry Tayloe Stansbury sold 2,158 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $151.35, for a total value of $326,613.30. Following the sale, the executive vice president now owns 3,050 shares in the company, valued at $461,617.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Scott D. Cook sold 183,334 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $151.46, for a total value of $27,767,767.64. The disclosure for this sale can be found here. Insiders sold 965,938 shares of company stock worth $149,469,127 in the last quarter. 5.59% of the stock is currently owned by company insiders.
Several equities analysts have weighed in on INTU shares. Credit Suisse Group reissued an “outperform” rating and set a $185.00 price objective (up from $170.00) on shares of Intuit in a report on Tuesday, January 9th. Zacks Investment Research lowered Intuit from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Morgan Stanley increased their price objective on Intuit from $110.00 to $120.00 and gave the company an “underweight” rating in a report on Tuesday, November 21st. Jefferies Group reissued a “buy” rating and set a $185.00 price objective on shares of Intuit in a report on Tuesday, November 21st. Finally, Oppenheimer increased their price objective on Intuit from $146.00 to $159.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $158.32.
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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