Intuit Inc. (NASDAQ:INTU) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its stake in Intuit Inc. (NASDAQ:INTU) by 41.2% in the 4th quarter, HoldingsChannel reports. The fund owned 2,770 shares of the software maker’s stock after selling 1,940 shares during the period. Cullinan Associates Inc.’s holdings in Intuit were worth $1,741,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. R Squared Ltd bought a new position in shares of Intuit during the fourth quarter valued at $25,000. Northwest Investment Counselors LLC bought a new position in Intuit during the 3rd quarter valued at about $27,000. Heck Capital Advisors LLC acquired a new position in Intuit in the fourth quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new stake in Intuit during the fourth quarter worth about $29,000. Finally, Denver PWM LLC acquired a new stake in shares of Intuit during the third quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 0.1 %

Shares of Intuit stock opened at $600.76 on Tuesday. 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 firm has a 50-day moving average of $630.95 and a 200-day moving average of $633.26. Intuit Inc. has a 52-week low of $557.29 and a 52-week high of $714.78. The stock has a market cap of $168.16 billion, a PE ratio of 58.33, a PEG ratio of 2.96 and a beta of 1.25.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.14 billion. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $1.14 EPS. As a group, sell-side analysts forecast that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 9th were given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit’s dividend payout ratio is presently 40.39%.

Insider Activity

In other news, insider Scott D. Cook sold 75,000 shares of Intuit 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 sale, the insider now directly owns 6,378,105 shares of the company’s stock, valued at approximately $4,093,595,351.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total value of $16,624,890.18. Following the completion of the transaction, the chief executive officer now directly owns 37,869 shares of the company’s stock, valued at $23,701,828.41. This represents a 41.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 293,014 shares of company stock worth $188,992,187. Corporate insiders own 2.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTU. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research report on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and set a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. Scotiabank began coverage on Intuit in a report on Monday, November 18th. They issued a “sector perform” rating and a $700.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Morgan Stanley raised their target price on shares of Intuit from $685.00 to $730.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit has a consensus rating of “Moderate Buy” and an average target price of $726.53.

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.