Mutual of America Capital Management LLC Has $22.34 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Mutual of America Capital Management LLC cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,378 shares of the software maker's stock after selling 1,130 shares during the quarter. Mutual of America Capital Management LLC's holdings in Intuit were worth $22,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Copia Wealth Management acquired a new stake in shares of Intuit in the fourth quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth approximately $28,000. Olde Wealth Management LLC purchased a new position in shares of Intuit in the 1st quarter worth $37,000. Atlantic Edge Private Wealth Management LLC grew its holdings in shares of Intuit by 523.1% during the 1st quarter. Atlantic Edge Private Wealth Management LLC now owns 81 shares of the software maker's stock worth $50,000 after purchasing an additional 68 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in Intuit during the fourth quarter worth approximately $64,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Intuit from $785.00 to $900.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $850.00 price target (up from $760.00) on shares of Intuit in a research note on Friday, May 23rd. Wall Street Zen raised Intuit from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $600.00 to $700.00 in a research report on Thursday, April 17th. Finally, Oppenheimer upped their price target on Intuit from $742.00 to $868.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $806.27.

Intuit Stock Performance

INTU stock traded down $12.61 during trading on Friday, reaching $749.00. 1,670,219 shares of the company's stock were exchanged, compared to its average volume of 1,762,309. Intuit Inc. has a 1-year low of $532.65 and a 1-year high of $813.70. The firm has a market cap of $208.93 billion, a PE ratio of 60.80, a P/E/G ratio of 3.00 and a beta of 1.28. The company's fifty day moving average price is $769.33 and its 200-day moving average price is $666.28. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.29.

Intuit (NASDAQ:INTU - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping the consensus estimate of $10.89 by $0.76. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.56 billion. Intuit had a net margin of 19.07% and a return on equity of 21.46%. The company's quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.88 earnings per share. On average, research analysts expect that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Thursday, July 10th were given a $1.04 dividend. The ex-dividend date was Thursday, July 10th. This represents a $4.16 annualized dividend and a yield of 0.6%. Intuit's payout ratio is 33.77%.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 1,147 shares of Intuit stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $773.90, for a total value of $887,663.30. Following the transaction, the executive vice president owned 19 shares of the company's stock, valued at $14,704.10. The trade was a 98.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 882 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $781.63, for a total transaction of $689,397.66. The disclosure for this sale can be found here. Insiders sold 279,800 shares of company stock valued at $209,725,054 in the last quarter. 2.68% 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.