InterOcean Capital Group LLC Sells 232 Shares of Intuit Inc. (NASDAQ:INTU)

InterOcean Capital Group LLC lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 22.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 808 shares of the software maker’s stock after selling 232 shares during the quarter. InterOcean Capital Group LLC’s holdings in Intuit were worth $525,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Intuit by 1.1% in the first quarter. Vanguard Group Inc. now owns 26,057,696 shares of the software maker’s stock valued at $16,937,502,000 after purchasing an additional 283,291 shares during the period. Wellington Management Group LLP raised its position in shares of Intuit by 173.0% in the fourth quarter. Wellington Management Group LLP now owns 3,687,583 shares of the software maker’s stock valued at $2,304,850,000 after purchasing an additional 2,336,654 shares during the period. Brown Advisory Inc. raised its position in shares of Intuit by 2.3% in the fourth quarter. Brown Advisory Inc. now owns 3,548,119 shares of the software maker’s stock valued at $2,217,681,000 after purchasing an additional 80,517 shares during the period. Norges Bank bought a new position in shares of Intuit in the fourth quarter valued at approximately $2,101,848,000. Finally, Fisher Asset Management LLC grew its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,975 shares of the software maker’s stock worth $1,946,954,000 after acquiring an additional 270,432 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Susquehanna lowered their price objective on shares of Intuit from $775.00 to $757.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Jefferies Financial Group reiterated a “buy” rating and set a $770.00 price target on shares of Intuit in a research note on Thursday, June 13th. Bank of America decreased their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. KeyCorp lifted their price target on shares of Intuit from $720.00 to $740.00 and gave the stock an “overweight” rating in a research note on Monday, May 20th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Intuit in a research note on Friday, June 14th. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $694.27.

Insider Activity at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the transaction, the insider now owns 6,791,469 shares in the company, valued at approximately $4,060,279,741.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 14,748 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $567.40, for a total value of $8,368,015.20. Following the transaction, the insider now owns 6,701,721 shares in the company, valued at approximately $3,802,556,495.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,963 shares of company stock worth $114,442,445. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

INTU traded up $6.08 during trading hours on Thursday, reaching $626.32. The company’s stock had a trading volume of 1,240,784 shares, compared to its average volume of 1,333,547. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company’s 50-day moving average is $625.06 and its 200-day moving average is $632.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $175.09 billion, a PE ratio of 57.78, a price-to-earnings-growth ratio of 3.64 and a beta of 1.23.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, May 23rd. The software maker reported $9.88 earnings per share for the quarter, beating analysts’ consensus estimates of $8.12 by $1.76. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the business earned $7.80 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Investors of record on Wednesday, July 10th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s dividend payout ratio (DPR) is presently 33.21%.

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.