Hartford Investment Management Co. Sells 1,210 Shares of Intuit Inc. (NASDAQ:INTU)

Hartford Investment Management Co. lessened its holdings in shares of Intuit Inc. (NASDAQ:INTUFree Report) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,886 shares of the software maker’s stock after selling 1,210 shares during the quarter. Hartford Investment Management Co.’s holdings in Intuit were worth $11,804,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clear Harbor Asset Management LLC boosted its holdings in shares of Intuit by 0.4% in the 4th quarter. Clear Harbor Asset Management LLC now owns 4,842 shares of the software maker’s stock worth $3,027,000 after purchasing an additional 18 shares in the last quarter. Glenview Trust co boosted its stake in Intuit by 1.9% in the third quarter. Glenview Trust co now owns 1,031 shares of the software maker’s stock worth $527,000 after buying an additional 19 shares in the last quarter. Verity Asset Management Inc. boosted its stake in Intuit by 2.5% in the third quarter. Verity Asset Management Inc. now owns 769 shares of the software maker’s stock worth $393,000 after buying an additional 19 shares in the last quarter. Steward Financial Group LLC grew its position in Intuit by 50.0% during the third quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after acquiring an additional 20 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its stake in shares of Intuit by 0.9% during the third quarter. Stratos Wealth Advisors LLC now owns 2,240 shares of the software maker’s stock worth $1,145,000 after acquiring an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intuit news, CAO Lauren D. Hotz sold 745 shares of Intuit stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now owns 3,180 shares in the company, valued at $2,083,313.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,260 shares of company stock worth $20,667,475. 2.90% of the stock is owned by insiders.

Intuit Stock Up 0.1 %

Shares of INTU traded up $0.85 on Wednesday, reaching $627.44. The stock had a trading volume of 595,012 shares, compared to its average volume of 1,238,389. The firm has a market capitalization of $175.68 billion, a price-to-earnings ratio of 64.54, a price-to-earnings-growth ratio of 3.90 and a beta of 1.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 1.17. The company has a 50-day simple moving average of $648.06 and a 200-day simple moving average of $590.35. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTUGet Free Report) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.33. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 EPS. Sell-side analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, April 9th. Intuit’s payout ratio is 36.73%.

Analysts Set New Price Targets

Several research firms recently commented on INTU. BMO Capital Markets reaffirmed an “outperform” rating and set a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Barclays boosted their target price on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus raised their price target on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Oppenheimer raised their price target on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, Evercore ISI raised their price target on Intuit from $670.00 to $725.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $645.00.

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About Intuit

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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.

See Also

Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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