Hartford Investment Management Co. Sells 354 Shares of Intuit Inc. (NASDAQ:INTU)

Hartford Investment Management Co. lessened its position in Intuit Inc. (NASDAQ:INTU) by 2.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,594 shares of the software maker’s stock after selling 354 shares during the period. Hartford Investment Management Co.’s holdings in Intuit were worth $10,926,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in Intuit by 2.8% during the 2nd quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock valued at $382,000 after acquiring an additional 16 shares during the period. WASHINGTON TRUST Co grew its position in Intuit by 10.5% in the 2nd quarter. WASHINGTON TRUST Co now owns 168 shares of the software maker’s stock worth $110,000 after purchasing an additional 16 shares during the period. Gemmer Asset Management LLC raised its stake in Intuit by 3.7% during the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock valued at $294,000 after buying an additional 16 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Intuit by 2.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 659 shares of the software maker’s stock valued at $429,000 after buying an additional 17 shares during the period. Finally, Stonebrook Private Inc. boosted its stake in shares of Intuit by 4.5% in the 1st quarter. Stonebrook Private Inc. now owns 398 shares of the software maker’s stock worth $259,000 after buying an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a research report on Monday, September 30th. Stifel Nicolaus boosted their target price on shares of Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Barclays decreased their price target on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Jefferies Financial Group boosted their price objective on shares of Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, Susquehanna reiterated a “positive” rating and set a $757.00 target price on shares of Intuit in a research report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Insider Activity

In related news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $621.03, for a total value of $535,327.86. Following the completion of the transaction, the chief financial officer now owns 3,840 shares in the company, valued at approximately $2,384,755.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intuit news, CFO Sandeep Aujla sold 862 shares of Intuit stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $621.03, for a total transaction of $535,327.86. Following the completion of the transaction, the chief financial officer now directly owns 3,840 shares of the company’s stock, valued at $2,384,755.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alex G. Balazs sold 2,941 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares in the company, valued at $12,575.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is currently owned by corporate insiders.

Intuit Price Performance

Shares of INTU stock traded down $1.68 during trading hours on Wednesday, hitting $607.91. The stock had a trading volume of 36,138 shares, compared to its average volume of 1,316,399. The stock’s 50-day moving average price is $629.40 and its two-hundred day moving average price is $627.34. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The stock has a market capitalization of $169.94 billion, a price-to-earnings ratio of 55.99, a PEG ratio of 3.04 and a beta of 1.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. Equities analysts forecast that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, October 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, October 10th. This is an increase from Intuit’s previous quarterly dividend of $0.90. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is 38.38%.

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.