Intuit Inc. (NASDAQ:INTU) Stake Decreased by First Horizon Advisors Inc.

First Horizon Advisors Inc. reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,821 shares of the software maker’s stock after selling 1,510 shares during the quarter. First Horizon Advisors Inc.’s holdings in Intuit were worth $14,264,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit in the 4th quarter worth approximately $25,000. MCF Advisors LLC lifted its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the last quarter. NewSquare Capital LLC bought a new stake in shares of Intuit during the 3rd quarter worth $25,000. Cape Investment Advisory Inc. acquired a new position in shares of Intuit in the 3rd quarter worth $26,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Intuit during the fourth quarter worth $38,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTU. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research note on Wednesday, February 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research report on Tuesday, March 26th. Susquehanna boosted their target price on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research report on Friday, February 23rd. Finally, Evercore ISI lifted their price objective on shares of Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $650.23.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares in the company, valued at approximately $2,083,313.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ:INTU traded down $0.72 during midday trading on Thursday, reaching $614.48. 408,565 shares of the company’s stock were exchanged, compared to its average volume of 1,235,340. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50 day simple moving average is $639.05 and its two-hundred day simple moving average is $605.00. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The firm has a market capitalization of $172.05 billion, a PE ratio of 62.86, a price-to-earnings-growth ratio of 3.81 and a beta of 1.22.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.05 earnings per share. Equities research analysts expect that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. Intuit’s dividend payout ratio is presently 36.73%.

About Intuit

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.