Lmcg Investments LLC Sells 8,184 Shares of Intuit Inc. (NASDAQ:INTU)

Lmcg Investments LLC lessened its position in Intuit Inc. (NASDAQ:INTU) by 95.3% in the fourth quarter, HoldingsChannel reports. The firm owned 407 shares of the software maker’s stock after selling 8,184 shares during the quarter. Lmcg Investments LLC’s holdings in Intuit were worth $256,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Aspiriant LLC bought a new stake in shares of Intuit during the 4th quarter valued at $389,000. Sugar Maple Asset Management LLC purchased a new position in Intuit during the 4th quarter valued at about $29,000. Pure Financial Advisors LLC bought a new stake in Intuit during the fourth quarter worth about $204,000. Addenda Capital Inc. grew its holdings in Intuit by 41.2% in the fourth quarter. Addenda Capital Inc. now owns 23,247 shares of the software maker’s stock worth $14,611,000 after purchasing an additional 6,786 shares during the period. Finally, Koshinski Asset Management Inc. increased its stake in shares of Intuit by 11.9% during the fourth quarter. Koshinski Asset Management Inc. now owns 1,090 shares of the software maker’s stock valued at $685,000 after purchasing an additional 116 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. This trade represents a 36.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 293,014 shares of company stock worth $188,992,187. Company insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTU. Scotiabank assumed coverage on Intuit in a research report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research note on Friday, November 22nd. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Wednesday, January 15th. Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Stifel Nicolaus decreased their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average target price of $726.53.

Intuit Stock Performance

INTU stock opened at $609.41 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. Intuit Inc. has a 1 year low of $557.29 and a 1 year high of $714.78. The company has a market cap of $170.59 billion, a P/E ratio of 59.17, a price-to-earnings-growth ratio of 2.98 and a beta of 1.25. The stock’s fifty day moving average price is $644.23 and its 200-day moving average price is $636.37.

Intuit (NASDAQ:INTU) last announced its earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 earnings per share. On average, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were issued 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 yield of 0.68%. Intuit’s dividend 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.