Stonebridge Capital Management Inc. Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Stonebridge Capital Management Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 0.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,385 shares of the software maker’s stock after selling 25 shares during the quarter. Intuit comprises about 2.9% of Stonebridge Capital Management Inc.’s investment portfolio, making the stock its 7th biggest position. Stonebridge Capital Management Inc.’s holdings in Intuit were worth $7,155,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in shares of Intuit by 5.4% in the third quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after purchasing an additional 1,853 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock valued at $2,383,000 after purchasing an additional 968 shares during the period. Retireful LLC bought a new position in Intuit in the third quarter worth approximately $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit in the third quarter worth approximately $56,144,000. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In related news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of Intuit stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 293,014 shares of company stock worth $188,992,187 in the last ninety days. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INTU shares. Oppenheimer upped their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Finally, Barclays reduced their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Price Performance

Shares of INTU stock opened at $621.45 on Thursday. The firm has a fifty day moving average of $649.57 and a two-hundred day moving average of $637.71. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The firm has a market cap of $173.96 billion, a P/E ratio of 60.33, a P/E/G ratio of 3.07 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period last year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 9th will be given a $1.04 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.67%. Intuit’s dividend payout ratio is presently 40.39%.

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.