MRA Advisory Group Cuts Stock Position in Intuit Inc. (NASDAQ:INTU)

MRA Advisory Group decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 461 shares of the software maker’s stock after selling 69 shares during the period. MRA Advisory Group’s holdings in Intuit were worth $290,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of INTU. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Harvest Portfolios Group Inc. boosted its position in Intuit by 5.4% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after buying an additional 1,853 shares during the period. GAMMA Investing LLC grew its stake in shares of Intuit by 33.7% in the third quarter. GAMMA Investing LLC now owns 3,838 shares of the software maker’s stock worth $2,383,000 after acquiring an additional 968 shares in the last quarter. Retireful LLC purchased a new stake in shares of Intuit during the third quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Intuit in the third quarter valued at $56,144,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Down 1.6 %

Intuit stock opened at $613.22 on Tuesday. The stock has a 50 day moving average of $649.47 and a two-hundred day moving average of $637.94. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The stock has a market capitalization of $171.65 billion, a price-to-earnings ratio of 59.54, a PEG ratio of 3.24 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the firm earned $1.14 EPS. Intuit’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 14.07 earnings per share for the current year.

Intuit Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 9th will be given a dividend of $1.04 per share. The ex-dividend date is Friday, January 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s payout ratio is currently 40.39%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTU. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Jefferies Financial Group upped their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Oppenheimer lifted their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday, December 20th. Finally, Barclays decreased 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. Six research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $737.44.

Insider Buying and Selling at Intuit

In related news, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company’s stock, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 293,014 shares of company stock valued at $188,992,187. Corporate insiders own 2.68% of the company’s stock.

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.