Cable Hill Partners LLC Cuts Position in Intuit Inc. (NASDAQ:INTU)

Cable Hill Partners LLC cut its stake in Intuit Inc. (NASDAQ:INTU) by 18.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 462 shares of the software maker’s stock after selling 103 shares during the period. Cable Hill Partners LLC’s holdings in Intuit were worth $287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC lifted its stake in Intuit by 2.8% in the second quarter. Fortitude Family Office LLC now owns 582 shares of the software maker’s stock worth $382,000 after purchasing an additional 16 shares during the last quarter. WASHINGTON TRUST Co lifted its holdings 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 buying an additional 16 shares during the period. Gemmer Asset Management LLC lifted its holdings in Intuit by 3.7% in the 2nd quarter. Gemmer Asset Management LLC now owns 448 shares of the software maker’s stock worth $294,000 after buying an additional 16 shares during the period. PFG Investments LLC lifted its holdings in Intuit by 1.1% in the 2nd quarter. PFG Investments LLC now owns 1,558 shares of the software maker’s stock worth $1,024,000 after buying an additional 17 shares during the period. Finally, Plancorp LLC lifted its holdings in Intuit by 2.0% in the 2nd quarter. Plancorp LLC now owns 881 shares of the software maker’s stock worth $579,000 after buying an additional 17 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In related news, Director Eve B. Burton sold 2,988 shares of Intuit stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $649.87, for a total transaction of $1,941,811.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $535,327.86. Following the transaction, the chief financial officer now owns 3,840 shares in the company, valued at $2,384,755.20. This trade represents a 18.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,297 shares of company stock worth $35,220,046. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Stifel Nicolaus increased their price objective on Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. BMO Capital Markets raised their target price on Intuit from $700.00 to $760.00 and gave the company an “outperform” rating in a research note on Friday, August 23rd. Susquehanna restated a “positive” rating and issued a $757.00 target price on shares of Intuit in a research note on Friday, August 16th. Bank of America raised their target price on Intuit from $730.00 to $780.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $750.00 to $685.00 in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $735.71.

Intuit Stock Performance

Shares of INTU opened at $700.76 on Friday. 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 Inc. has a one year low of $552.68 and a one year high of $714.78. The firm has a market capitalization of $196.42 billion, a P/E ratio of 67.06, a PEG ratio of 3.45 and a beta of 1.25. The business has a fifty day moving average of $630.03 and a 200 day moving average of $629.21.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The company had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.08 billion. Intuit had a return on equity of 18.64% and a net margin of 18.19%. Intuit’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.04 EPS for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, October 10th were given a dividend of $1.04 per share. 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 annualized dividend and a yield of 0.59%. Intuit’s payout ratio is 39.81%.

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.