Intuit Inc. (INTU) Shares Sold by Eaton Vance Management

Eaton Vance Management lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 5.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,734 shares of the software maker’s stock after selling 11,890 shares during the quarter. Eaton Vance Management owned about 0.08% of Intuit worth $47,466,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in INTU. Oakworth Capital Inc. boosted its position in shares of Intuit by 2,480.0% during the 3rd quarter. Oakworth Capital Inc. now owns 516 shares of the software maker’s stock worth $117,000 after purchasing an additional 496 shares in the last quarter. Fort L.P. bought a new position in shares of Intuit during the 2nd quarter worth about $120,000. Willingdon Wealth Management bought a new position in shares of Intuit during the 3rd quarter worth about $121,000. Financial Gravity Wealth Inc. boosted its position in shares of Intuit by 65.0% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock worth $122,000 after purchasing an additional 240 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Intuit by 160.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 606 shares of the software maker’s stock worth $124,000 after purchasing an additional 373 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Shares of NASDAQ INTU opened at $214.53 on Friday. Intuit Inc. has a fifty-two week low of $150.43 and a fifty-two week high of $231.84. The stock has a market capitalization of $55.67 billion, a P/E ratio of 46.14, a price-to-earnings-growth ratio of 2.50 and a beta of 1.19. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.13.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.18. Intuit had a net margin of 20.71% and a return on equity of 56.35%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $971.45 million. During the same quarter last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Intuit Inc. will post 5.27 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Investors of record on Thursday, January 10th will be given a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.88 annualized dividend and a yield of 0.88%. Intuit’s payout ratio is 41.50%.

INTU has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 price objective on the stock in a research report on Tuesday, August 28th. Stifel Nicolaus increased their price objective on shares of Intuit from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Guggenheim initiated coverage on shares of Intuit in a research report on Tuesday, August 7th. They set a “buy” rating and a $250.00 price objective on the stock. Argus increased their price objective on shares of Intuit from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 4th. Finally, Deutsche Bank initiated coverage on shares of Intuit in a research report on Monday, October 8th. They set a “buy” rating and a $265.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Intuit has an average rating of “Buy” and an average price target of $213.59.

In other Intuit news, EVP Henry Tayloe Stansbury sold 19,018 shares of the stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $218.86, for a total value of $4,162,279.48. Following the completion of the sale, the executive vice president now owns 1,890 shares in the company, valued at approximately $413,645.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brad D. Smith sold 254,325 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $227.66, for a total transaction of $57,899,629.50. Following the completion of the sale, the chief executive officer now owns 415,445 shares of the company’s stock, valued at approximately $94,580,208.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 820,551 shares of company stock worth $175,080,020. 4.60% of the stock is owned by insiders.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

See Also: Beta

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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