Intuit Inc. (NASDAQ:INTU) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. cut its stake in Intuit Inc. (NASDAQ:INTU) by 1.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,605 shares of the software maker’s stock after selling 1,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Intuit were worth $72,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. J.W. Cole Advisors Inc. purchased a new stake in shares of Intuit in the fourth quarter valued at about $424,000. Jennison Associates LLC purchased a new position in Intuit during the fourth quarter worth about $5,421,000. RWA Wealth Partners LLC acquired a new position in Intuit during the fourth quarter worth about $1,930,000. Larson Financial Group LLC grew its position in Intuit by 452.4% during the fourth quarter. Larson Financial Group LLC now owns 116 shares of the software maker’s stock worth $73,000 after buying an additional 95 shares during the period. Finally, Wynn Capital LLC acquired a new position in Intuit during the fourth quarter worth about $294,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INTU has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of Intuit from $745.00 to $740.00 and set an “overweight” rating on the stock in a research note on Friday. Wells Fargo & Company lifted their price target on shares of Intuit from $725.00 to $750.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley downgraded shares of Intuit from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $750.00 to $685.00 in a report on Wednesday, August 14th. Finally, Stifel Nicolaus lifted their target price on shares of Intuit from $690.00 to $795.00 and gave the stock a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $703.27.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 1,061 shares of the company’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the transaction, the chief financial officer now owns 3,333 shares of the company’s stock, valued at approximately $2,170,682.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Mark P. Notarainni sold 465 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $604.58, for a total value of $281,129.70. Following the completion of the transaction, the executive vice president now directly owns 869 shares in the company, valued at $525,380.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandeep Aujla sold 1,061 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $651.27, for a total value of $690,997.47. Following the sale, the chief financial officer now directly owns 3,333 shares in the company, valued at $2,170,682.91. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,963 shares of company stock valued at $114,442,445. 2.90% of the stock is currently owned by insiders.

Intuit Stock Down 6.8 %

Shares of NASDAQ:INTU traded down $45.44 on Friday, hitting $619.85. 4,113,425 shares of the company traded hands, compared to its average volume of 1,333,187. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.32. Intuit Inc. has a 52 week low of $473.56 and a 52 week high of $676.62. The company has a market cap of $173.28 billion, a PE ratio of 57.18, a PEG ratio of 3.14 and a beta of 1.23. The stock has a 50 day simple moving average of $639.27 and a 200-day simple moving average of $634.43.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.99 EPS for the quarter, topping the consensus estimate of $1.85 by $0.14. The firm had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.08 billion. Intuit had a return on equity of 18.61% and a net margin of 19.43%. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. As a group, research analysts expect that Intuit Inc. will post 11.72 earnings per share for the current year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, October 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.67%. This is an increase from Intuit’s previous quarterly dividend of $0.90. Intuit’s payout ratio is currently 33.21%.

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.