Kathmere Capital Management LLC Sells 55 Shares of Intuit Inc. (NASDAQ:INTU)

Kathmere Capital Management LLC lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 13.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 343 shares of the software maker’s stock after selling 55 shares during the quarter. Kathmere Capital Management LLC’s holdings in Intuit were worth $214,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. DiNuzzo Private Wealth Inc. acquired a new position in Intuit in the fourth quarter valued at about $25,000. West Branch Capital LLC raised its position in shares of Intuit by 79.2% in the 1st quarter. West Branch Capital LLC now owns 43 shares of the software maker’s stock valued at $28,000 after acquiring an additional 19 shares during the period. MCF Advisors LLC boosted its stake in Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares during the last quarter. Wetzel Investment Advisors Inc. acquired a new position in Intuit during the fourth quarter valued at approximately $38,000. Finally, Sachetta LLC bought a new stake in Intuit in the fourth quarter valued at approximately $39,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Bank of America reduced their price target on shares of Intuit from $760.00 to $730.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $770.00 price target on shares of Intuit in a research report on Thursday, June 13th. Morgan Stanley boosted their price objective on Intuit from $680.00 to $740.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. UBS Group raised their target price on shares of Intuit from $625.00 to $670.00 and gave the stock a “neutral” rating in a report on Monday, May 20th. Finally, Stifel Nicolaus reduced their price target on shares of Intuit from $720.00 to $690.00 and set a “buy” rating for the company in a report on Friday, May 24th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $694.27.

Insider Transactions at Intuit

In related news, EVP Mark P. Notarainni sold 465 shares of Intuit stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total value of $281,129.70. Following the transaction, the executive vice president now directly owns 869 shares of the company’s stock, valued at $525,380.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $597.85, for a total transaction of $44,838,750.00. Following the completion of the transaction, the insider now owns 6,791,469 shares of the company’s stock, valued at $4,060,279,741.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $604.58, for a total transaction of $281,129.70. Following the completion of the sale, the executive vice president now owns 869 shares in the company, valued at $525,380.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,963 shares of company stock valued at $114,442,445. Company insiders own 2.90% of the company’s stock.

Intuit Stock Performance

INTU stock traded down $13.90 during midday trading on Friday, reaching $623.92. 1,788,726 shares of the company were exchanged, compared to its average volume of 1,239,510. Intuit Inc. has a one year low of $473.56 and a one year high of $676.62. The firm has a market capitalization of $174.42 billion, a price-to-earnings ratio of 57.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.23. The business has a 50-day moving average price of $622.03 and a two-hundred day moving average price of $633.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.50 and a quick ratio of 1.50.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $9.88 EPS for the quarter, topping analysts’ consensus estimates of $8.12 by $1.76. The firm had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.65 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company earned $7.80 EPS. Equities research analysts forecast that Intuit Inc. will post 11.72 EPS for the current year.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Wednesday, July 10th were given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, July 10th. Intuit’s payout ratio is presently 33.21%.

Intuit Company Profile

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.