Gemmer Asset Management LLC Sells 87 Shares of Intuit Inc. (NASDAQ:INTU)

Gemmer Asset Management LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 18.1% during the first quarter, Holdings Channel reports. The institutional investor owned 393 shares of the software maker’s stock after selling 87 shares during the period. Gemmer Asset Management LLC’s holdings in Intuit were worth $241,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INTU. Copia Wealth Management purchased a new position in shares of Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC raised its stake in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the 4th quarter worth approximately $28,000. Summit Securities Group LLC bought a new position in Intuit in the 4th quarter worth approximately $28,000. Finally, Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth approximately $28,000. Institutional investors own 83.66% of the company’s stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several recent analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $820.00 price objective (up previously from $714.00) on shares of Intuit in a research report on Friday, May 23rd. Scotiabank upgraded shares of Intuit from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $600.00 to $700.00 in a report on Thursday, April 17th. HSBC upgraded shares of Intuit from a “hold” rating to a “buy” rating and set a $699.00 price target on the stock in a research note on Wednesday, April 23rd. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $825.00 target price (up from $775.00) on shares of Intuit in a report on Friday, May 23rd. Finally, Stifel Nicolaus increased their price target on Intuit from $725.00 to $850.00 and gave the company a “buy” rating in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $785.33.

Insider Activity at Intuit

In other news, EVP Alex G. Balazs sold 1,459 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $770.80, for a total transaction of $1,124,597.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Scott D. Cook sold 72,442 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 6,063,495 shares of the company’s stock, valued at $4,494,808,208.55. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,592 shares of company stock worth $165,325,437 in the last quarter. 2.68% of the stock is owned by company insiders.

Intuit Trading Up 0.6%

INTU stock opened at $771.58 on Friday. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $773.45. The stock has a market capitalization of $215.23 billion, a price-to-earnings ratio of 74.91, a price-to-earnings-growth ratio of 2.85 and a beta of 1.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm’s fifty day simple moving average is $646.24 and its two-hundred day simple moving average is $626.38.

Intuit (NASDAQ:INTU) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $11.65 earnings per share for the quarter, topping analysts’ consensus estimates of $10.89 by $0.76. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.56 billion. During the same period in the prior year, the company posted $9.88 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. As a group, analysts anticipate that Intuit Inc. will post 14.09 earnings per share for the current year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Thursday, July 10th will be paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, July 10th. Intuit’s dividend payout ratio is currently 33.77%.

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.