Pacific Capital Wealth Advisors Inc. Sells 17 Shares of Intuit Inc. (NASDAQ:INTU)

Pacific Capital Wealth Advisors Inc. cut its holdings in Intuit Inc. (NASDAQ:INTU) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 249 shares of the software maker’s stock after selling 17 shares during the period. Pacific Capital Wealth Advisors Inc.’s holdings in Intuit were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Northwest Investment Counselors LLC purchased a new stake in Intuit during the third quarter valued at approximately $27,000. Sugar Maple Asset Management LLC purchased a new stake in Intuit during the 4th quarter valued at $29,000. Denver PWM LLC purchased a new stake in Intuit during the 3rd quarter valued at $32,000. Dunhill Financial LLC boosted its stake in Intuit by 110.3% during the third quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after buying an additional 32 shares during the period. Finally, AlphaMark Advisors LLC increased its position in Intuit by 6,500.0% during the fourth quarter. AlphaMark Advisors LLC now owns 66 shares of the software maker’s stock valued at $41,000 after acquiring an additional 65 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTU has been the subject of several analyst reports. Barclays dropped their price target on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. raised their price target on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $726.53.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares in the company, valued at approximately $1,154,337.92. This represents a 36.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of Intuit stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the transaction, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Performance

Shares of INTU opened at $606.62 on Tuesday. The stock has a 50-day moving average of $636.69 and a two-hundred day moving average of $635.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $169.80 billion, a P/E ratio of 58.90, a P/E/G ratio of 3.01 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 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 10.2% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. As a group, research analysts predict that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were paid a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is currently 40.39%.

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.