Berbice Capital Management LLC Sells 338 Shares of Intuit Inc. (NASDAQ:INTU)

Berbice Capital Management LLC decreased its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 53.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 300 shares of the software maker's stock after selling 338 shares during the quarter. Berbice Capital Management LLC's holdings in Intuit were worth $184,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after buying an additional 353,185 shares during the last quarter. Geode Capital Management LLC grew its holdings in Intuit by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP grew its holdings in Intuit by 13.3% in the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Norges Bank acquired a new stake in Intuit in the 4th quarter valued at approximately $2,290,419,000. Finally, Brown Advisory Inc. grew its holdings in Intuit by 7.9% in the 1st quarter. Brown Advisory Inc. now owns 3,444,600 shares of the software maker's stock valued at $2,114,950,000 after buying an additional 252,265 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on INTU shares. Stifel Nicolaus raised their target price on Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a report on Friday, May 23rd. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 target price on the stock in a report on Wednesday, April 23rd. Morgan Stanley boosted their price objective on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Barclays restated an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Citigroup restated a "buy" rating and set a $789.00 price objective (up from $726.00) on shares of Intuit in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $800.55.

Intuit Stock Performance

Intuit stock remained flat at $747.90 on Friday. The company's stock had a trading volume of 1,047,778 shares, compared to its average volume of 1,621,283. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization of $208.63 billion, a P/E ratio of 60.71, a price-to-earnings-growth ratio of 3.33 and a beta of 1.27. The company's fifty day moving average is $733.03 and its two-hundred day moving average is $646.70. Intuit Inc. has a one year low of $532.65 and a one year high of $790.60.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts' consensus estimates of $10.89 by $0.76. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The firm's quarterly revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $9.88 earnings per share. As a group, equities analysts forecast that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.56%. Intuit's payout ratio is currently 33.77%.

Insider Activity at Intuit

In related news, EVP Alex G. Balazs sold 882 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $781.63, for a total value of $689,397.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard L. Dalzell sold 333 shares of the company's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $768.43, for a total value of $255,887.19. Following the completion of the sale, the director owned 15,474 shares of the company's stock, valued at $11,890,685.82. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 279,800 shares of company stock valued at $209,725,054 over the last quarter. 2.68% of the stock is currently owned by corporate insiders.

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.