Novare Capital Management LLC Sells 365 Shares of Intuit Inc. (NASDAQ:INTU)

Novare Capital Management LLC lessened its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,750 shares of the software maker's stock after selling 365 shares during the period. Novare Capital Management LLC's holdings in Intuit were worth $1,688,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Intuit during the 4th quarter worth $2,290,419,000. GAMMA Investing LLC boosted its stake in shares of Intuit by 69,701.9% during the 1st quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker's stock worth $17,348,790,000 after acquiring an additional 2,821,534 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 33.5% during the 4th 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 acquiring an additional 771,232 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Intuit by 13.3% during the 4th 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 during the last quarter. Finally, Unisphere Establishment boosted its stake in shares of Intuit by 50.0% during the 4th quarter. Unisphere Establishment now owns 1,500,000 shares of the software maker's stock worth $942,750,000 after acquiring an additional 500,000 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Insider Buying and Selling

In other news, insider Scott D. Cook sold 62,816 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $765.99, for a total value of $48,116,427.84. Following the completion of the sale, the insider owned 6,000,679 shares of the company's stock, valued at approximately $4,596,460,107.21. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark P. Notarainni sold 1,147 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $773.90, for a total transaction of $887,663.30. Following the completion of the sale, the executive vice president directly owned 19 shares of the company's stock, valued at $14,704.10. The trade was a 98.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 275,661 shares of company stock worth $206,491,776 over the last 90 days. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on INTU. UBS Group set a $750.00 target price on shares of Intuit and gave the company a "neutral" rating in a research note on Friday, May 23rd. Hsbc Global Res upgraded shares of Intuit from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 23rd. CLSA began coverage on shares of Intuit in a research note on Thursday, June 26th. They set an "outperform" rating and a $900.00 target price on the stock. Stifel Nicolaus lifted their target price on shares of Intuit from $725.00 to $850.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $850.00 target price (up previously from $760.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, Intuit currently has a consensus rating of "Moderate Buy" and a consensus price target of $793.05.

Intuit Trading Up 1.1%

Intuit stock traded up $8.56 during trading hours on Friday, hitting $782.26. The company had a trading volume of 822,973 shares, compared to its average volume of 1,619,864. The firm has a market cap of $218.21 billion, a P/E ratio of 55.01, a P/E/G ratio of 3.47 and a beta of 1.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.45 and a current ratio of 1.45. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $790.60. The company has a 50-day moving average price of $718.90 and a two-hundred day moving average price of $642.44.

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

Intuit Announces Dividend

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

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.