Intuit Inc. (INTU) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its stake in shares of Intuit Inc. (NASDAQ:INTU) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,852,381 shares of the software maker’s stock after selling 181,475 shares during the period. Primecap Management Co. CA owned 1.88% of Intuit worth $1,103,431,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Financial Gravity Wealth Inc. raised its stake in Intuit by 65.0% in the 3rd quarter. Financial Gravity Wealth Inc. now owns 609 shares of the software maker’s stock worth $122,000 after purchasing an additional 240 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Intuit by 3.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,055 shares of the software maker’s stock worth $1,422,000 after purchasing an additional 252 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Intuit by 4.2% during the 2nd quarter. Dynamic Advisor Solutions LLC now owns 6,480 shares of the software maker’s stock worth $1,325,000 after purchasing an additional 262 shares in the last quarter. Zacks Investment Management increased its position in Intuit by 0.4% during the 2nd quarter. Zacks Investment Management now owns 60,914 shares of the software maker’s stock worth $12,445,000 after purchasing an additional 264 shares in the last quarter. Finally, Global Financial Private Capital LLC increased its position in Intuit by 7.8% during the 2nd quarter. Global Financial Private Capital LLC now owns 3,725 shares of the software maker’s stock worth $761,000 after purchasing an additional 271 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

NASDAQ:INTU traded up $1.33 on Friday, reaching $210.52. 194,771 shares of the company’s stock were exchanged, compared to its average volume of 1,765,922. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $54.22 billion, a PE ratio of 46.47, a P/E/G ratio of 2.44 and a beta of 1.19. Intuit Inc. has a 52 week low of $150.43 and a 52 week high of $231.84.

Intuit (NASDAQ:INTU) last issued its earnings results on Monday, November 19th. The software maker reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.18. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $971.45 million. Intuit had a net margin of 20.71% and a return on equity of 56.35%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. Analysts anticipate that Intuit Inc. will post 5.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 18th. Shareholders of record on Thursday, January 10th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.88 dividend on an annualized basis and a yield of 0.89%. Intuit’s dividend payout ratio is presently 41.50%.

In other Intuit news, insider Scott D. Cook sold 100,000 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $221.58, for a total transaction of $22,158,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sasan K. Goodarzi sold 85,835 shares of the stock in a transaction dated Wednesday, November 21st. The stock was sold at an average price of $196.74, for a total transaction of $16,887,177.90. Following the transaction, the executive vice president now owns 90,837 shares of the company’s stock, valued at approximately $17,871,271.38. The disclosure for this sale can be found here. Insiders have sold 820,551 shares of company stock valued at $175,080,020 in the last quarter. Company insiders own 4.60% of the company’s stock.

Several research firms recently weighed in on INTU. Zacks Investment Research upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $243.00 price target for the company in a research report on Tuesday, August 28th. Stifel Nicolaus increased their price target on shares of Intuit from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, August 24th. Guggenheim began coverage on shares of Intuit in a research report on Tuesday, August 7th. They set a “buy” rating and a $250.00 price target for the company. Argus increased their price target on shares of Intuit from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, October 4th. Finally, Deutsche Bank began coverage on shares of Intuit in a research report on Monday, October 8th. They set a “buy” rating and a $265.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $213.59.

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Intuit Profile

Intuit Inc provides financial management and compliance products and services for small businesses, consumers, self-employed, and accounting professionals in the United States, Canada, and internationally. The company's Small Business & Self-Employed segment provides QuickBooks online services and desktop software solutions comprising QuickBooks Enterprise, a hosted or server-based solution and QuickBooks Advanced, an online enterprise solution; QuickBooks Self-Employed solution; and QuickBooks Online Accountant and QuickBooks Accountant Desktop Plus solutions; payroll solutions, such as online payroll processing, direct deposit of employee paychecks, payroll reports, electronic payment of federal and state payroll taxes, and electronic filing of federal and state payroll tax forms.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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