Manchester Capital Management LLC Sells 28 Shares of Intuit Inc. (NASDAQ:INTU)

Manchester Capital Management LLC reduced its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 522 shares of the software maker’s stock after selling 28 shares during the quarter. Manchester Capital Management LLC’s holdings in Intuit were worth $328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in Intuit in the 4th quarter valued at $25,000. Northwest Investment Counselors LLC bought a new stake in Intuit in the 3rd quarter valued at $27,000. Heck Capital Advisors LLC bought a new stake in Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock valued at $188,992,187 over the last ninety days. 2.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTU. Oppenheimer boosted their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Barclays dropped their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Jefferies Financial Group lifted their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Stock Up 0.6 %

Shares of Intuit stock opened at $587.38 on Friday. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average is $621.39 and its 200 day moving average is $630.35. The firm has a market cap of $164.42 billion, a price-to-earnings ratio of 57.03, a PEG ratio of 2.91 and a beta of 1.24.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the prior year, the business earned $1.14 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Friday, January 10th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

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.