Sequoia Financial Advisors LLC Has $7.52 Million Position in Intuit Inc. (NASDAQ:INTU)

Sequoia Financial Advisors LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 26.4% during the first quarter, Holdings Channel.com reports. The firm owned 11,571 shares of the software maker’s stock after selling 4,152 shares during the period. Sequoia Financial Advisors LLC’s holdings in Intuit were worth $7,521,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of INTU. Norges Bank bought a new stake in shares of Intuit during the fourth quarter worth $2,101,848,000. Wellington Management Group LLP raised its position in shares of Intuit by 173.0% during the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock worth $2,304,850,000 after acquiring an additional 2,336,654 shares during the last quarter. Lone Pine Capital LLC bought a new stake in shares of Intuit during the fourth quarter worth $467,852,000. Parnassus Investments LLC raised its position in shares of Intuit by 119.0% during the fourth quarter. Parnassus Investments LLC now owns 1,338,139 shares of the software maker’s stock worth $836,377,000 after acquiring an additional 727,185 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Intuit by 60,534.9% during the fourth quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after acquiring an additional 472,172 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 1.3 %

Shares of INTU stock traded up $8.85 on Friday, hitting $668.75. 1,517,071 shares of the stock were exchanged, compared to its average volume of 1,424,375. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $186.95 billion, a P/E ratio of 61.69, a price-to-earnings-growth ratio of 3.77 and a beta of 1.23. The business has a 50-day moving average of $621.74 and a 200 day moving average of $629.75. Intuit Inc. has a fifty-two week low of $444.19 and a fifty-two week high of $676.62.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, topping the consensus estimate of $8.12 by $1.76. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. Intuit’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.80 earnings per share. Equities analysts anticipate that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Wednesday, July 10th will be given a dividend of $0.90 per share. The ex-dividend date is Wednesday, July 10th. This represents a $3.60 annualized dividend and a yield of 0.54%. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on Intuit from $725.00 to $750.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Bank of America dropped their price objective on Intuit from $760.00 to $730.00 and set a “buy” rating for the company in a report on Friday, May 24th. Susquehanna dropped their price objective on Intuit from $775.00 to $757.00 and set a “positive” rating for the company in a report on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $770.00 price objective on shares of Intuit in a report on Thursday, June 13th. Finally, KeyCorp upped their price objective on Intuit from $720.00 to $740.00 and gave the company an “overweight” rating in a report on Monday, May 20th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, Intuit has a consensus rating of “Moderate Buy” and an average price target of $687.22.

Insider Activity at Intuit

In related news, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Sandeep Aujla sold 1,415 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total transaction of $855,480.70. Following the completion of the transaction, the chief financial officer now directly owns 2,332 shares of the company’s stock, valued at $1,409,880.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 14,748 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now directly owns 6,701,721 shares of the company’s stock, valued at $3,802,556,495.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,963 shares of company stock valued at $114,442,445. 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.