Cumberland Partners Ltd Reduces Holdings in Intuit Inc. (NASDAQ:INTU)

Cumberland Partners Ltd reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,215 shares of the software maker’s stock after selling 150 shares during the period. Cumberland Partners Ltd’s holdings in Intuit were worth $1,371,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Intuit during the 4th quarter valued at about $915,000. Linden Thomas Advisory Services LLC lifted its position in Intuit by 10.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 6,131 shares of the software maker’s stock valued at $3,832,000 after acquiring an additional 564 shares during the period. Community Bank & Trust Waco Texas lifted its position in Intuit by 5.6% during the 4th quarter. Community Bank & Trust Waco Texas now owns 1,463 shares of the software maker’s stock valued at $914,000 after acquiring an additional 77 shares during the period. Parkside Financial Bank & Trust lifted its position in Intuit by 17.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,123 shares of the software maker’s stock valued at $702,000 after acquiring an additional 170 shares during the period. Finally, Larson Financial Group LLC lifted its position in Intuit by 452.4% during the 4th quarter. Larson Financial Group LLC now owns 116 shares of the software maker’s stock valued at $73,000 after acquiring an additional 95 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INTU. StockNews.com cut shares of Intuit from a “buy” rating to a “hold” rating in a research report on Monday. Mizuho raised their price objective on shares of Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Susquehanna raised their price objective on shares of Intuit from $700.00 to $775.00 and gave the company a “positive” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their price objective on shares of Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, KeyCorp raised their price objective on shares of Intuit from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Wednesday, March 27th. Five equities research 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 a consensus rating of “Moderate Buy” and a consensus target price of $645.00.

Intuit Stock Performance

Shares of INTU stock traded up $5.16 during trading hours on Wednesday, reaching $636.04. The company had a trading volume of 791,754 shares, compared to its average volume of 1,242,312. The business has a fifty day moving average price of $641.83 and a 200-day moving average price of $601.63. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $178.09 billion, a PE ratio of 64.86, a price-to-earnings-growth ratio of 3.71 and a beta of 1.21. Intuit Inc. has a one year low of $400.22 and a one year high of $671.01.

Intuit (NASDAQ:INTU) last announced 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 company had revenue of $3.39 billion during 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%. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share. Sell-side analysts predict that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Wednesday, April 10th were given a dividend of $0.90 per share. 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 dividend payout ratio (DPR) is 36.73%.

Insider Activity at Intuit

In other Intuit 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 transaction of $2,450,897.28. Following the transaction, the executive vice president now 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 available through the SEC website. In other news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $655.13, for a total value of $488,071.85. Following the transaction, 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 is available through this link. Also, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was 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 directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,717 shares of company stock worth $3,117,156. 2.90% of the stock is owned by company insiders.

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.