Ferguson Wellman Capital Management Inc. Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Ferguson Wellman Capital Management Inc. cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,828 shares of the software maker’s stock after selling 587 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Intuit were worth $8,490,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Intuit in the 4th quarter valued at about $2,290,419,000. GAMMA Investing LLC lifted its holdings in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after acquiring an additional 2,821,534 shares during the period. Proficio Capital Partners LLC boosted its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after purchasing an additional 1,062,847 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intuit by 33.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after purchasing an additional 771,232 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total value of $11,662,373.93. Following the transaction, the chief financial officer now directly owns 197 shares of the company’s stock, valued at approximately $143,047.61. This represents a 98.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 288,408 shares of company stock worth $213,441,865. 2.68% of the stock is owned by company insiders.

Intuit Trading Up 0.3%

Shares of Intuit stock opened at $764.75 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $656.45 and a 200-day simple moving average of $628.59. The stock has a market cap of $213.32 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.85 and a beta of 1.28. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45.

Intuit (NASDAQ:INTU) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. Intuit’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $9.88 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INTU shares. Mizuho increased their target price on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Morgan Stanley reissued an “overweight” rating and issued a $785.00 price objective (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Wells Fargo & Company restated an “overweight” rating and issued a $825.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Citigroup reaffirmed a “buy” rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $785.33.

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.