Amalgamated Bank Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Amalgamated Bank cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,895 shares of the software maker’s stock after selling 3,612 shares during the period. Amalgamated Bank’s holdings in Intuit were worth $43,686,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INTU. Aveo Capital Partners LLC bought a new stake in Intuit in the fourth quarter valued at about $203,000. Los Angeles Capital Management LLC boosted its position in shares of Intuit by 28.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 149,261 shares of the software maker’s stock valued at $93,293,000 after purchasing an additional 32,748 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Intuit by 3.5% during the fourth quarter. Natixis Advisors L.P. now owns 298,939 shares of the software maker’s stock valued at $186,846,000 after purchasing an additional 10,181 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in Intuit by 7.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 63,162 shares of the software maker’s stock valued at $39,479,000 after purchasing an additional 4,557 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Intuit by 9.5% in the fourth quarter. Fisher Asset Management LLC now owns 3,114,957 shares of the software maker’s stock worth $1,946,943,000 after acquiring an additional 270,414 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Price Performance

NASDAQ INTU traded down $1.16 during trading on Thursday, hitting $614.04. 1,091,918 shares of the stock traded hands, compared to its average volume of 1,239,255. The firm has a 50-day simple moving average of $639.05 and a 200-day simple moving average of $605.00. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $171.93 billion, a P/E ratio of 62.86, a price-to-earnings-growth ratio of 3.81 and a beta of 1.22. Intuit Inc. has a 12-month low of $400.22 and a 12-month high of $671.01.

Intuit (NASDAQ:INTU) last announced its quarterly earnings data on Thursday, February 22nd. The software maker reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.33. Intuit had a return on equity of 17.51% and a net margin of 18.35%. The company had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Intuit’s revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 9th. Intuit’s dividend payout ratio (DPR) is 36.73%.

Insider Buying and Selling at Intuit

In other news, EVP Kerry J. Mclean sold 3,692 shares of Intuit stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Lauren D. Hotz sold 745 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total transaction of $488,071.85. Following the completion of the transaction, the chief accounting officer now directly owns 3,180 shares of the company’s stock, valued at approximately $2,083,313.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 3,692 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $663.84, for a total value of $2,450,897.28. Following the transaction, the executive vice president now directly owns 22,948 shares of the company’s stock, valued at $15,233,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Oppenheimer boosted their price objective on Intuit from $678.00 to $712.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Susquehanna lifted their price objective on shares of Intuit from $700.00 to $775.00 and gave the stock a “positive” rating in a research note on Friday, February 23rd. Mizuho lifted their price objective on Intuit from $670.00 to $725.00 and gave the company a “buy” rating in a report on Friday, February 23rd. Barclays upped their price objective on Intuit from $735.00 to $745.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Finally, Wells Fargo & Company raised their price objective on Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

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.