Intuit Inc. (NASDAQ:INTU) Holdings Trimmed by M&T Bank Corp

M&T Bank Corp decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 61,816 shares of the software maker’s stock after selling 1,465 shares during the quarter. M&T Bank Corp’s holdings in Intuit were worth $38,637,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Parnassus Investments LLC grew its holdings in shares of Intuit by 42,268.5% during the 3rd quarter. Parnassus Investments LLC now owns 610,954 shares of the software maker’s stock valued at $312,161,000 after acquiring an additional 609,512 shares in the last quarter. Wellington Management Group LLP increased its position in Intuit by 61.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,350,929 shares of the software maker’s stock worth $690,244,000 after purchasing an additional 514,259 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Intuit by 60,534.9% during the 4th quarter. International Assets Investment Management LLC now owns 472,952 shares of the software maker’s stock worth $295,609,000 after purchasing an additional 472,172 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Intuit by 9.5% during the 4th quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock valued at $1,946,943,000 after buying an additional 270,414 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Intuit by 5.0% in the 3rd quarter. FMR LLC now owns 5,636,635 shares of the software maker’s stock valued at $2,879,982,000 after buying an additional 266,803 shares in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Price Performance

Shares of INTU stock traded up $15.23 during trading hours on Friday, reaching $629.27. 1,109,512 shares of the company were exchanged, compared to its average volume of 1,209,705. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The stock’s fifty day moving average is $638.17 and its two-hundred day moving average is $605.07. Intuit Inc. has a fifty-two week low of $400.22 and a fifty-two week high of $671.01. The company has a market cap of $176.20 billion, a price-to-earnings ratio of 64.21, a P/E/G ratio of 3.74 and a beta of 1.22.

Intuit (NASDAQ:INTU) last released its earnings results on Thursday, February 22nd. The software maker reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Sell-side analysts forecast that Intuit Inc. will post 11.27 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company boosted their target price on shares of Intuit from $615.00 to $710.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 21st. StockNews.com upgraded Intuit from a “hold” rating to a “buy” rating in a report on Tuesday. Stifel Nicolaus increased their price target on Intuit from $600.00 to $720.00 and gave the company a “buy” rating in a report on Friday, February 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $700.00 target price on shares of Intuit in a report on Tuesday, March 26th. Finally, Oppenheimer upped their price target on shares of Intuit from $678.00 to $712.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $650.23.

Insider Transactions at Intuit

In other Intuit news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total transaction of $2,450,897.28. Following the completion of the transaction, the executive vice president now owns 22,948 shares in the company, valued at $15,233,800.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 280 shares of Intuit stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders sold a total of 4,717 shares of company stock worth $3,117,156 in the last quarter. 2.90% 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.