Carderock Capital Management Inc. Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Carderock Capital Management Inc. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 4.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,395 shares of the software maker’s stock after selling 540 shares during the quarter. Carderock Capital Management Inc.’s holdings in Intuit were worth $6,533,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brown Financial Advisors grew its holdings in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock worth $1,018,000 after purchasing an additional 15 shares during the last quarter. Truvestments Capital LLC boosted its position in Intuit by 1.5% during the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the period. Aviso Wealth Management grew its holdings in Intuit by 4.9% in the 2nd quarter. Aviso Wealth Management now owns 362 shares of the software maker’s stock worth $238,000 after acquiring an additional 17 shares during the last quarter. CVA Family Office LLC increased its position in shares of Intuit by 3.3% in the third quarter. CVA Family Office LLC now owns 531 shares of the software maker’s stock valued at $330,000 after acquiring an additional 17 shares during the period. Finally, Chris Bulman Inc raised its stake in shares of Intuit by 1.1% during the third quarter. Chris Bulman Inc now owns 1,520 shares of the software maker’s stock valued at $944,000 after acquiring an additional 17 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 75,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 6,378,105 shares in the company, valued at $4,093,595,351.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark P. Notarainni sold 3,649 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,014 shares of company stock worth $188,992,187. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INTU. Morgan Stanley boosted their price target on Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a report on Friday, November 22nd. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a research note on Wednesday. Oppenheimer raised their price target on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $726.53.

Intuit Price Performance

Shares of INTU opened at $604.13 on Friday. Intuit Inc. has a twelve month low of $557.29 and a twelve month high of $714.78. The company has a market capitalization of $169.11 billion, a P/E ratio of 58.65, a price-to-earnings-growth ratio of 3.07 and a beta of 1.25. The firm has a 50 day moving average of $647.69 and a 200 day moving average of $637.39. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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 the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current fiscal year.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is 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.