Boston Common Asset Management LLC Sells 11,504 Shares of Intuit Inc. (NASDAQ:INTU)

Boston Common Asset Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 32.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,070 shares of the software maker's stock after selling 11,504 shares during the quarter. Boston Common Asset Management LLC's holdings in Intuit were worth $14,779,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. R Squared Ltd acquired a new position in Intuit during the 4th quarter worth approximately $25,000. Copia Wealth Management acquired a new position in Intuit during the 4th quarter worth approximately $25,000. NewSquare Capital LLC boosted its position in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Summit Securities Group LLC acquired a new position in Intuit during the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

INTU traded down $5.18 during trading hours on Friday, reaching $752.04. The company's stock had a trading volume of 2,887,091 shares, compared to its average volume of 1,619,387. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $761.02. The company's 50-day moving average is $630.69 and its 200-day moving average is $622.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $209.78 billion, a PE ratio of 73.01, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, beating analysts' consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion for the quarter, compared to analysts' expectations of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 EPS. The firm's revenue for the quarter was up 15.1% on a year-over-year basis. On average, equities analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, July 10th. Intuit's dividend payout ratio (DPR) is presently 33.77%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Hsbc Global Res raised Intuit from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $825.00 price target (up previously from $775.00) on shares of Intuit in a research report on Friday, May 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $850.00 price target (up previously from $760.00) on shares of Intuit in a research report on Friday, May 23rd. Citigroup reaffirmed a "buy" rating and set a $789.00 price target (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Finally, Susquehanna reaffirmed a "positive" rating on shares of Intuit in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $785.33.

Insiders Place Their Bets

In other Intuit news, CFO Sandeep Aujla sold 16,061 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the transaction, the chief financial officer now owns 197 shares in the company, valued at $143,047.61. This trade represents a 98.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott D. Cook sold 72,442 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $741.29, for a total value of $53,700,530.18. Following the transaction, the insider now owns 6,063,495 shares in the company, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,804 shares of company stock worth $138,081,963 in the last 90 days. Company insiders own 2.68% of the company's stock.

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.