Folger Nolan Fleming Douglas Capital Management Inc. Sells 500 Shares of Intuit Inc. (NASDAQ:INTU)

Folger Nolan Fleming Douglas Capital Management Inc. reduced its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 15.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,740 shares of the software maker's stock after selling 500 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in Intuit were worth $1,682,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Intuit by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Geode Capital Management LLC raised its stake in Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock worth $3,833,720,000 after buying an additional 132,384 shares during the period. Wellington Management Group LLP boosted its holdings 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 acquiring an additional 620,559 shares in the last quarter. Norges Bank bought a new position in Intuit in the fourth quarter worth approximately $2,290,419,000. Finally, Northern Trust Corp grew its stake in Intuit by 17.3% in the fourth quarter. Northern Trust Corp now owns 3,371,013 shares of the software maker's stock valued at $2,118,682,000 after acquiring an additional 498,030 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

INTU traded down $12.23 during midday trading on Friday, reaching $753.98. The company had a trading volume of 1,148,047 shares, compared to its average volume of 1,611,840. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $773.45. The business has a 50-day moving average price of $664.85 and a two-hundred day moving average price of $630.25. The stock has a market cap of $210.32 billion, a PE ratio of 73.20, a P/E/G ratio of 2.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data 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 18.25% and a net margin of 17.59%. The business had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter in the prior year, the business earned $9.88 earnings per share. Intuit's revenue for the quarter was up 15.1% on a year-over-year basis. On average, sell-side analysts expect that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, July 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. Intuit's payout ratio is 33.77%.

Insider Buying and Selling

In related news, EVP Mark P. Notarainni sold 469 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the completion of the transaction, the executive vice president now directly owns 19 shares of the company's stock, valued at approximately $13,775. This trade represents a 96.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandeep Aujla sold 16,061 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $726.13, for a total transaction of $11,662,373.93. Following the sale, the chief financial officer now directly owns 197 shares in the company, valued at $143,047.61. The trade was a 98.79% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 288,408 shares of company stock valued at $213,441,865. 2.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTU. BMO Capital Markets reaffirmed an "outperform" rating and set a $820.00 target price (up from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Susquehanna restated a "positive" rating on shares of Intuit in a research note on Friday, May 23rd. Jefferies Financial Group set a $850.00 price objective on shares of Intuit and gave the stock a "buy" rating in a report on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $815.00 price objective (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Wall Street Zen upgraded shares of Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $787.95.

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.