Jacobs & Co. CA Lowers Stake in Intuit Inc. (NASDAQ:INTU)

Jacobs & Co. CA reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,152 shares of the software maker’s stock after selling 268 shares during the quarter. Jacobs & Co. CA’s holdings in Intuit were worth $4,271,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of INTU. MUFG Americas Holdings Corp lifted its stake in Intuit by 1,600.0% in the 4th quarter. MUFG Americas Holdings Corp now owns 68 shares of the software maker’s stock valued at $26,000 after buying an additional 64 shares in the last quarter. Clearview Wealth Advisors LLC purchased a new position in Intuit in the 4th quarter valued at about $29,000. TRU Independence Asset Management 2 LLC purchased a new position in Intuit in the 4th quarter valued at about $29,000. Encompass Wealth Advisors LLC purchased a new position in Intuit in the 4th quarter valued at about $29,000. Finally, Concord Wealth Partners purchased a new position in Intuit in the 4th quarter valued at about $37,000. 84.79% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP James Alexander Chriss sold 364 shares of Intuit stock in a transaction on Thursday, February 25th. The shares were sold at an average price of $407.38, for a total transaction of $148,286.32. Following the sale, the executive vice president now directly owns 221 shares in the company, valued at approximately $90,030.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michelle M. Clatterbuck sold 2,253 shares of Intuit stock in a transaction on Tuesday, March 2nd. The stock was sold at an average price of $403.51, for a total transaction of $909,108.03. Following the sale, the chief financial officer now owns 4,293 shares in the company, valued at $1,732,268.43. The disclosure for this sale can be found here. 3.38% of the stock is currently owned by insiders.

Intuit stock traded up $8.63 during trading on Thursday, hitting $409.68. The company had a trading volume of 15,095 shares, compared to its average volume of 1,464,663. Intuit Inc. has a 1-year low of $240.38 and a 1-year high of $423.74. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.39. The company’s 50 day simple moving average is $391.35 and its 200-day simple moving average is $365.48. The stock has a market cap of $112.19 billion, a price-to-earnings ratio of 53.83, a price-to-earnings-growth ratio of 4.29 and a beta of 0.99.

Intuit (NASDAQ:INTU) last issued its quarterly earnings results on Tuesday, February 23rd. The software maker reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.55. Intuit had a net margin of 25.10% and a return on equity of 40.29%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter last year, the company posted $1.16 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. As a group, analysts forecast that Intuit Inc. will post 5.87 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 19th. Stockholders of record on Monday, April 12th will be given a dividend of $0.59 per share. The ex-dividend date is Friday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 0.58%. Intuit’s dividend payout ratio (DPR) is currently 35.98%.

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Intuit from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, March 2nd. KeyCorp increased their price objective on shares of Intuit from $400.00 to $405.00 and gave the company an “overweight” rating in a report on Tuesday, February 2nd. Barclays increased their price objective on shares of Intuit from $455.00 to $480.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Morgan Stanley reiterated a “buy” rating and issued a $470.00 price objective on shares of Intuit in a report on Tuesday. Finally, Smith Barney Citigroup increased their price objective on shares of Intuit from $378.00 to $383.00 in a report on Tuesday, December 22nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $426.05.

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 three segments: Small Business & Self-Employed, Consumer, and Strategic Partner.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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