Legal Advantage Investments Inc. Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Legal Advantage Investments Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,466 shares of the software maker’s stock after selling 87 shares during the quarter. Intuit comprises about 2.5% of Legal Advantage Investments Inc.’s holdings, making the stock its 11th biggest holding. Legal Advantage Investments Inc.’s holdings in Intuit were worth $4,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Northwest Investment Counselors LLC acquired a new stake in Intuit in the 3rd quarter valued at about $27,000. Sugar Maple Asset Management LLC acquired a new stake in Intuit in the 4th quarter valued at about $29,000. Denver PWM LLC acquired a new stake in Intuit in the 3rd quarter valued at about $32,000. Dunhill Financial LLC lifted its holdings in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock valued at $38,000 after purchasing an additional 32 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Intuit during the 2nd quarter worth about $49,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 0.5 %

INTU opened at $604.13 on Tuesday. Intuit Inc. has a 1-year low of $557.29 and a 1-year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $169.11 billion, a price-to-earnings ratio of 58.65, a P/E/G ratio of 2.98 and a beta of 1.25. The business has a 50 day moving average of $646.09 and a 200-day moving average of $636.77.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same period in the prior year, the business earned $1.14 earnings per share. Intuit’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were given a $1.04 dividend. The ex-dividend date was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit’s dividend payout ratio is 40.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. BNP Paribas cut shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Barclays dropped their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Finally, Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $726.53.

Insider Activity

In related news, insider Scott D. Cook sold 75,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their ownership of the stock. 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. 2.68% of the stock is owned by company insiders.

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.