Sunbelt Securities Inc. Has $1.38 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Sunbelt Securities Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 23.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,227 shares of the software maker’s stock after selling 666 shares during the period. Sunbelt Securities Inc.’s holdings in Intuit were worth $1,383,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker’s stock worth $300,768,000 after purchasing an additional 483,621 shares during the last quarter. Holocene Advisors LP boosted its position in shares of Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Intuit during the second quarter worth $184,982,000. Ameriprise Financial Inc. raised its position in Intuit by 17.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,616,811 shares of the software maker’s stock valued at $1,062,578,000 after buying an additional 238,486 shares during the last quarter. Finally, State Street Corp lifted its stake in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Intuit Trading Up 3.6 %

Shares of Intuit stock opened at $670.56 on Thursday. The stock has a market capitalization of $187.70 billion, a P/E ratio of 65.10, a P/E/G ratio of 3.19 and a beta of 1.24. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. 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’s 50-day simple moving average is $636.41 and its 200 day simple moving average is $630.71.

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, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for 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%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.14 earnings per share. As a group, research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INTU. StockNews.com upgraded shares of Intuit from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Bank of America lifted their target price on shares of Intuit from $730.00 to $780.00 and gave the stock a “buy” rating in a research report 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. Finally, Scotiabank began coverage on Intuit in a research report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $737.44.

Insider Activity at Intuit

In other news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sandeep Aujla sold 775 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $601.31, for a total transaction of $466,015.25. Following the completion of the transaction, the chief financial officer now owns 4,451 shares of the company’s stock, valued at $2,676,430.81. This trade represents a 14.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,732 shares of company stock worth $81,378,070. 2.68% of the stock is owned by company insiders.

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.