Intuit Inc. (NASDAQ:INTU) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 551,402 shares of the software maker's stock after selling 8,545 shares during the quarter. Rhumbline Advisers owned about 0.20% of Intuit worth $338,555,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in shares of Intuit during the 4th quarter valued at $25,000. Copia Wealth Management purchased a new stake in shares of Intuit in the 4th quarter valued at about $25,000. NewSquare Capital LLC grew its position in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the 4th quarter valued at $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the fourth quarter valued at approximately $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTU has been the topic of a number of research reports. Bank of America lifted their target price on shares of Intuit from $730.00 to $875.00 and gave the company a "buy" rating in a research note on Friday, May 23rd. UBS Group set a $750.00 target price on shares of Intuit and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. KeyCorp reiterated an "overweight" rating and issued a $850.00 price target (up previously from $770.00) on shares of Intuit in a research note on Friday, May 23rd. Finally, Oppenheimer reissued an "outperform" rating and issued 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, three have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $785.33.

Intuit Stock Performance

NASDAQ INTU traded up $5.16 during mid-day trading on Thursday, reaching $771.97. 442,034 shares of the stock were exchanged, compared to its average volume of 1,616,199. The company has a market capitalization of $215.34 billion, a P/E ratio of 74.95, a P/E/G ratio of 2.85 and a beta of 1.24. 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 business's 50 day moving average is $640.03 and its 200-day moving average is $624.89. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $773.47.

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

Intuit Announces Dividend

The business 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. 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 0.54%. Intuit's dividend payout ratio is currently 33.77%.

Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the sale, the executive vice president now owns 40,190 shares in the company, valued at $24,119,224.70. The trade was a 15.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total transaction of $53,700,530.18. Following the completion of the sale, the insider now directly owns 6,063,495 shares in the company, valued at $4,494,808,208.55. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,804 shares of company stock worth $138,081,963. 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.