First Horizon Advisors Inc. Has $7.41 Million Position in Intuit Inc. (NASDAQ:INTU)

First Horizon Advisors Inc. cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 45.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,063 shares of the software maker's stock after selling 9,865 shares during the period. First Horizon Advisors Inc.'s holdings in Intuit were worth $7,408,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in INTU. Norges Bank acquired a new position in shares of Intuit during the fourth quarter valued at about $2,290,419,000. GAMMA Investing LLC raised its stake in shares of Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker's stock worth $1,930,765,000 after purchasing an additional 771,232 shares during the period. Wellington Management Group LLP lifted its position in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock worth $3,329,115,000 after purchasing an additional 620,559 shares during the period. Finally, Unisphere Establishment boosted its stake in Intuit by 50.0% during the fourth quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after buying an additional 500,000 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the subject of a number of analyst reports. CLSA initiated coverage on shares of Intuit in a report on Thursday, June 26th. They set an "outperform" rating and a $900.00 price objective for the company. Morgan Stanley restated an "overweight" rating and set a $785.00 price target (up previously from $720.00) on shares of Intuit in a research note on Friday, May 23rd. HSBC upgraded Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a research note on Wednesday, April 23rd. UBS Group set a $750.00 price target on Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, Oppenheimer reiterated an "outperform" rating and set a $742.00 price objective (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $793.05.

Intuit Stock Performance

Shares of Intuit stock opened at $782.26 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a 50 day simple moving average of $715.74 and a 200 day simple moving average of $641.72. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $790.60. The firm has a market cap of $218.21 billion, a P/E ratio of 63.49, a P/E/G ratio of 3.44 and a beta of 1.27.

Intuit (NASDAQ:INTU - Get Free Report) last released its earnings results on Thursday, May 22nd. The software maker reported $11.65 EPS for the quarter, beating the consensus estimate of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.56 billion. During the same period last year, the firm earned $9.88 EPS. The business's revenue for the quarter was up 15.1% on a year-over-year basis. Sell-side analysts predict that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Thursday, July 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.53%. Intuit's payout ratio is presently 33.77%.

Insider Transactions at Intuit

In other news, 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 owned 6,063,495 shares of the company's stock, valued at $4,494,808,208.55. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kerry J. Mclean sold 16,700 shares of Intuit stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $729.16, for a total value of $12,176,972.00. Following the sale, the executive vice president directly owned 23,101 shares of the company's stock, valued at approximately $16,844,325.16. This trade represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,661 shares of company stock valued at $206,491,776. 2.68% of the stock is currently 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.

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