Clifford Swan Investment Counsel LLC Sells 589 Shares of Intuit Inc. (NASDAQ:INTU)

Clifford Swan Investment Counsel LLC reduced its stake in Intuit Inc. (NASDAQ:INTU) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 46,000 shares of the software maker’s stock after selling 589 shares during the quarter. Intuit comprises 1.1% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 21st largest position. Clifford Swan Investment Counsel LLC’s holdings in Intuit were worth $28,752,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Intuit by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,331,318 shares of the software maker’s stock valued at $12,942,784,000 after purchasing an additional 117,478 shares during the period. FMR LLC grew its holdings in shares of Intuit by 5.0% during the third quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock worth $2,879,982,000 after buying an additional 266,803 shares in the last quarter. Morgan Stanley raised its position in Intuit by 3.7% in the 3rd quarter. Morgan Stanley now owns 3,848,401 shares of the software maker’s stock valued at $1,966,304,000 after buying an additional 137,198 shares during the last quarter. Northern Trust Corp raised its position in Intuit by 5.2% in the 3rd quarter. Northern Trust Corp now owns 3,212,771 shares of the software maker’s stock valued at $1,641,533,000 after buying an additional 160,229 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in Intuit by 9.5% in the 4th quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after acquiring an additional 270,414 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Stock Performance

Shares of NASDAQ INTU traded up $15.23 during midday trading on Friday, hitting $629.27. 1,109,512 shares of the company’s stock were exchanged, compared to its average volume of 1,209,705. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $176.20 billion, a PE ratio of 64.21, a price-to-earnings-growth ratio of 3.83 and a beta of 1.22. Intuit Inc. has a 12 month low of $400.22 and a 12 month high of $671.01. The company’s 50 day moving average price is $637.56 and its 200 day moving average price is $606.70.

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

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors 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 dividend on an annualized basis and a yield of 0.57%. Intuit’s dividend payout ratio (DPR) is currently 36.73%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INTU shares. StockNews.com raised shares of Intuit from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Stifel Nicolaus raised their target price on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company boosted their price target on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. Evercore ISI increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Finally, KeyCorp lifted their target price on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 745 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,717 shares of company stock worth $3,117,156. Insiders own 2.90% of the company’s stock.

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.