FourThought Financial Partners LLC Has $5.36 Million Position in Intuit Inc. (NASDAQ:INTU)

FourThought Financial Partners LLC lowered its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.2% during the fourth quarter, HoldingsChannel reports. The firm owned 8,574 shares of the software maker’s stock after selling 564 shares during the quarter. FourThought Financial Partners LLC’s holdings in Intuit were worth $5,359,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. TCG Advisory Services LLC bought a new position in shares of Intuit during the fourth quarter worth about $216,000. First National Trust Co grew its holdings in shares of Intuit by 9.4% during the fourth quarter. First National Trust Co now owns 975 shares of the software maker’s stock worth $609,000 after buying an additional 84 shares in the last quarter. Royal Fund Management LLC grew its holdings in shares of Intuit by 5.0% during the fourth quarter. Royal Fund Management LLC now owns 813 shares of the software maker’s stock worth $508,000 after buying an additional 39 shares in the last quarter. AJOVista LLC bought a new position in shares of Intuit during the fourth quarter worth about $199,000. Finally, Provence Wealth Management Group grew its holdings in shares of Intuit by 24.8% during the fourth quarter. Provence Wealth Management Group now owns 729 shares of the software maker’s stock worth $456,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 2.5 %

Shares of NASDAQ:INTU traded up $15.23 during mid-day trading on Friday, reaching $629.27. 1,109,512 shares of the company’s stock were exchanged, compared to its average volume of 1,209,705. The firm has a market capitalization of $176.20 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 3.74 and a beta of 1.22. The business’s fifty day moving average price is $637.56 and its 200-day moving average price is $605.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. Intuit Inc. has a twelve month low of $400.22 and a twelve month high of $671.01.

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

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were issued a $0.90 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $3.60 annualized dividend and a yield of 0.57%. Intuit’s payout ratio is 36.73%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on INTU. Barclays increased their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. KeyCorp raised their price target on Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Stifel Nicolaus raised their price target on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Mizuho raised their price target on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, Susquehanna raised their price objective on Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $650.23.

Insider Activity at Intuit

In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction 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 owns 22,948 shares in the company, valued at $15,233,800.32. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Intuit news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction 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 completion of the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The shares were 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 directly owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock worth $3,117,156 over the last quarter. Company insiders own 2.90% of the company’s stock.

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.