Echo45 Advisors LLC Sells 21 Shares of Intuit Inc. (NASDAQ:INTU)

Echo45 Advisors LLC lowered its position in Intuit Inc. (NASDAQ:INTU) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 416 shares of the software maker’s stock after selling 21 shares during the period. Echo45 Advisors LLC’s holdings in Intuit were worth $260,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INTU. NewSquare Capital LLC acquired a new position in Intuit in the 3rd quarter worth $25,000. Cape Investment Advisory Inc. acquired a new position in Intuit in the 3rd quarter worth $26,000. Steward Financial Group LLC boosted its stake in Intuit by 50.0% in the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock worth $30,000 after purchasing an additional 20 shares during the period. Aspire Private Capital LLC boosted its stake in Intuit by 144.4% in the 3rd quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock worth $34,000 after purchasing an additional 39 shares during the period. Finally, Webster Bank N. A. acquired a new position in Intuit in the 4th quarter worth $41,000. Institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INTU. Barclays upped their target price on shares of Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Mizuho increased their price objective on shares of Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. 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. BMO Capital Markets restated an “outperform” rating and set a $700.00 price objective on shares of Intuit in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $645.00.

Intuit Stock Performance

Intuit stock traded down $4.83 during trading hours on Thursday, hitting $608.38. The company had a trading volume of 790,870 shares, compared to its average volume of 1,243,946. The firm has a market cap of $170.35 billion, a PE ratio of 62.04, a PEG ratio of 3.72 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01. The firm has a 50-day moving average of $644.88 and a 200 day moving average of $598.39.

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

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.90 per share. The ex-dividend date is 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%.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction that occurred on Wednesday, March 20th. The shares were 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. Over the last ninety days, insiders have sold 4,717 shares of company stock valued at $3,117,156. 2.90% of the stock is currently owned by company insiders.

Intuit Company 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.