Intuit Inc. (INTU) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 10.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 490,683 shares of the software maker’s stock after selling 54,829 shares during the quarter. Principal Financial Group Inc. owned about 0.19% of Intuit worth $96,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Intuit by 4.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 3,028 shares of the software maker’s stock valued at $596,000 after purchasing an additional 132 shares during the last quarter. Brinker Capital Inc. raised its stake in Intuit by 157.4% during the 4th quarter. Brinker Capital Inc. now owns 28,534 shares of the software maker’s stock valued at $5,617,000 after purchasing an additional 17,450 shares during the period. Menta Capital LLC acquired a new stake in Intuit during the 4th quarter valued at $220,000. Abacus Planning Group Inc. increased its stake in shares of Intuit by 207.9% in the fourth quarter. Abacus Planning Group Inc. now owns 10,294 shares of the software maker’s stock worth $1,378,000 after acquiring an additional 6,951 shares during the last quarter. Finally, Fundsmith LLP increased its stake in shares of Intuit by 7.3% in the fourth quarter. Fundsmith LLP now owns 4,388,174 shares of the software maker’s stock worth $997,871,000 after acquiring an additional 297,945 shares during the last quarter. 88.44% of the stock is owned by institutional investors and hedge funds.

Intuit stock opened at $255.99 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.13. Intuit Inc. has a 12-month low of $166.51 and a 12-month high of $259.86. The company has a market capitalization of $66.32 billion, a P/E ratio of 56.51, a PEG ratio of 2.99 and a beta of 1.19.

Intuit (NASDAQ:INTU) last posted its earnings results on Thursday, February 21st. The software maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.44. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Intuit had a return on equity of 53.70% and a net margin of 22.89%. During the same period in the prior year, the company earned $0.35 EPS. Analysts forecast that Intuit Inc. will post 5.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.88 annualized dividend and a dividend yield of 0.73%. Intuit’s dividend payout ratio is currently 41.50%.

Several equities research analysts recently weighed in on the stock. Bank of America reiterated a “buy” rating and issued a $264.00 target price (up previously from $252.00) on shares of Intuit in a research note on Wednesday, March 6th. Goldman Sachs Group reaffirmed a “neutral” rating and set a $212.00 price objective on shares of Intuit in a report on Friday, February 1st. ValuEngine raised shares of Intuit from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 28th. KeyCorp initiated coverage on shares of Intuit in a research note on Tuesday, December 18th. They issued an “overweight” rating and a $250.00 price objective on the stock. Finally, Zacks Investment Research cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $230.11.

In other Intuit news, EVP Laura A. Fennell sold 67,488 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $251.43, for a total value of $16,968,507.84. Following the completion of the transaction, the executive vice president now directly owns 95,102 shares of the company’s stock, valued at $23,911,495.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Henry Tayloe Stansbury sold 3,650 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $188.94, for a total value of $689,631.00. Following the completion of the transaction, the executive vice president now directly owns 3,383 shares of the company’s stock, valued at $639,184.02. The disclosure for this sale can be found here. Insiders sold 94,259 shares of company stock worth $23,447,484 in the last quarter. 4.60% of the stock is owned by insiders.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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