GHP Investment Advisors Inc. Sells 23 Shares of Intuit Inc. (NASDAQ:INTU)

GHP Investment Advisors Inc. lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 0.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,792 shares of the software maker’s stock after selling 23 shares during the period. GHP Investment Advisors Inc.’s holdings in Intuit were worth $10,310,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Intuit during the 4th quarter worth approximately $2,290,419,000. GAMMA Investing LLC lifted its stake in Intuit by 69,701.9% in the first quarter. GAMMA Investing LLC now owns 2,825,582 shares of the software maker’s stock valued at $17,348,790,000 after purchasing an additional 2,821,534 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after purchasing an additional 1,062,847 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intuit by 33.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,072,021 shares of the software maker’s stock worth $1,930,765,000 after buying an additional 771,232 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock worth $3,329,115,000 after buying an additional 620,559 shares during the last quarter. Institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on INTU shares. JPMorgan Chase & Co. upped their price target on Intuit from $660.00 to $770.00 and gave the company an “overweight” rating in a research report on Friday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $785.00 price objective (up from $720.00) on shares of Intuit in a report on Friday, May 23rd. Citigroup reiterated a “buy” rating and set a $789.00 target price (up previously from $726.00) on shares of Intuit in a research report on Friday, May 23rd. Jefferies Financial Group set a $850.00 price target on shares of Intuit and gave the company a “buy” rating in a research report on Friday, May 23rd. Finally, Oppenheimer restated an “outperform” rating and set a $742.00 price target (up from $642.00) on shares of Intuit in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $787.95.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 72,442 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $741.29, for a total value of $53,700,530.18. Following the completion of the transaction, the insider now directly owns 6,063,495 shares in the company, valued at approximately $4,494,808,208.55. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark P. Notarainni sold 469 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $725.00, for a total value of $340,025.00. Following the sale, the executive vice president now owns 19 shares in the company, valued at $13,775. The trade was a 96.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,158 shares of company stock worth $202,989,194. Insiders own 2.68% of the company’s stock.

Intuit Stock Up 0.2%

Shares of NASDAQ:INTU opened at $762.55 on Tuesday. The firm has a fifty day moving average price of $686.27 and a two-hundred day moving average price of $635.14. The company has a market cap of $212.71 billion, a price-to-earnings ratio of 61.90, a PEG ratio of 3.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.45 and a quick ratio of 1.45. Intuit Inc. has a one year low of $532.65 and a one year high of $773.45.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a return on equity of 21.46% and a net margin of 19.07%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the business posted $9.88 earnings per share. The firm’s revenue was up 15.1% compared to the same quarter last year. Analysts anticipate that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Thursday, July 10th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, July 10th. Intuit’s payout ratio is 33.77%.

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.