First Horizon Advisors Inc. Has $14.26 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

First Horizon Advisors Inc. lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 22,821 shares of the software maker’s stock after selling 1,510 shares during the quarter. First Horizon Advisors Inc.’s holdings in Intuit were worth $14,264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTU. NewSquare Capital LLC acquired a new position in Intuit in the third quarter valued at $25,000. DiNuzzo Private Wealth Inc. acquired a new stake in shares of Intuit during the 4th quarter worth approximately $25,000. Cape Investment Advisory Inc. acquired a new stake in shares of Intuit during the 3rd quarter worth approximately $26,000. MCF Advisors LLC lifted its position in shares of Intuit by 119.0% during the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock valued at $29,000 after acquiring an additional 25 shares during the period. Finally, Aspire Private Capital LLC raised its holdings in shares of Intuit by 144.4% during the third quarter. Aspire Private Capital LLC now owns 66 shares of the software maker’s stock valued at $34,000 after purchasing an additional 39 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU traded down $0.72 during mid-day trading on Thursday, reaching $614.48. 408,565 shares of the company’s stock were exchanged, compared to its average volume of 1,235,340. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 1.17. The firm has a market capitalization of $172.05 billion, a price-to-earnings ratio of 62.86, a price-to-earnings-growth ratio of 3.81 and a beta of 1.22. Intuit Inc. has a 52 week low of $400.22 and a 52 week high of $671.01. The firm has a 50-day moving average price of $639.05 and a two-hundred day moving average price of $605.00.

Intuit (NASDAQ:INTU) last posted its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. 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 previous year, the firm posted $1.05 EPS. Intuit’s revenue was up 11.3% on a year-over-year basis. Analysts predict that Intuit Inc. will post 11.27 EPS for the current year.

Intuit Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently commented on INTU shares. Evercore ISI raised their target price on Intuit from $670.00 to $725.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. raised their price objective on Intuit from $560.00 to $585.00 and gave the company a “neutral” rating in a research note on Friday, February 23rd. Stifel Nicolaus upped their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Wells Fargo & Company lifted their price target on shares of Intuit from $615.00 to $710.00 and gave the company an “overweight” rating in a research report on Wednesday, February 21st. Finally, Barclays raised their price objective on shares of Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.23.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now owns 3,180 shares of the company’s stock, valued at $2,083,313.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Alex G. Balazs sold 280 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total value of $178,186.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lauren D. Hotz sold 745 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $655.13, for a total value of $488,071.85. Following the completion of the sale, the chief accounting officer now directly owns 3,180 shares in the company, valued at $2,083,313.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,717 shares of company stock valued at $3,117,156. Corporate insiders own 2.90% of the company’s stock.

Intuit 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.