Brown Brothers Harriman & Co. Reduces Position in Intuit Inc. (NASDAQ:INTU)

Brown Brothers Harriman & Co. lowered its holdings in shares of Intuit Inc. (NASDAQ:INTUGet Rating) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,841 shares of the software maker’s stock after selling 40 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Intuit were worth $1,847,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of INTU. BlackRock Inc. grew its stake in Intuit by 3.7% in the first quarter. BlackRock Inc. now owns 26,048,746 shares of the software maker’s stock worth $12,525,279,000 after purchasing an additional 919,626 shares in the last quarter. Vanguard Group Inc. raised its position in Intuit by 6.4% during the 1st quarter. Vanguard Group Inc. now owns 24,068,193 shares of the software maker’s stock valued at $11,572,950,000 after purchasing an additional 1,446,489 shares in the last quarter. State Street Corp lifted its holdings in shares of Intuit by 6.0% in the 4th quarter. State Street Corp now owns 11,529,236 shares of the software maker’s stock worth $7,415,835,000 after buying an additional 652,399 shares during the period. Geode Capital Management LLC boosted its position in shares of Intuit by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 4,922,658 shares of the software maker’s stock worth $3,158,032,000 after purchasing an additional 336,690 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Intuit by 2.8% during the 1st quarter. Brown Advisory Inc. now owns 3,823,715 shares of the software maker’s stock valued at $1,962,730,000 after buying an additional 103,642 shares in the last quarter. Institutional investors own 83.31% of the company’s stock.

Intuit Trading Up 0.9 %

Shares of INTU opened at $439.04 on Friday. Intuit Inc. has a 52-week low of $339.36 and a 52-week high of $716.86. The stock has a market cap of $123.75 billion, a PE ratio of 60.56, a price-to-earnings-growth ratio of 3.07 and a beta of 1.19. The firm’s fifty day moving average is $436.14 and its two-hundred day moving average is $432.48. The company has a quick ratio of 1.63, a current ratio of 1.39 and a debt-to-equity ratio of 0.39.

Intuit (NASDAQ:INTUGet Rating) last posted its quarterly earnings results on Tuesday, August 23rd. The software maker reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.12. Intuit had a net margin of 16.23% and a return on equity of 16.47%. During the same period in the prior year, the company earned $1.28 EPS. Research analysts forecast that Intuit Inc. will post 8.88 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 18th. Investors of record on Monday, October 10th will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, October 6th. This is a boost from Intuit’s previous quarterly dividend of $0.68. Intuit’s dividend payout ratio (DPR) is currently 37.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INTU shares. Bank of America dropped their price target on Intuit from $650.00 to $530.00 and set a “buy” rating on the stock in a research note on Wednesday, May 25th. Oppenheimer raised their price target on shares of Intuit from $476.00 to $516.00 and gave the stock an “outperform” rating in a report on Wednesday, August 24th. KeyCorp boosted their price objective on shares of Intuit from $475.00 to $525.00 and gave the company an “overweight” rating in a report on Wednesday, August 24th. Wells Fargo & Company dropped their price target on Intuit from $635.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 25th. Finally, Barclays lifted their target price on Intuit from $580.00 to $585.00 and gave the stock an “overweight” rating in a report on Wednesday, August 24th. One investment analyst has rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $570.61.

Insider Buying and Selling at Intuit

In related news, Director Raul Vazquez sold 1,790 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $390.37, for a total transaction of $698,762.30. Following the completion of the sale, the director now directly owns 2,019 shares in the company, valued at $788,157.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Intuit news, EVP Laura A. Fennell sold 10,000 shares of the firm’s stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $392.39, for a total transaction of $3,923,900.00. Following the completion of the sale, the executive vice president now owns 28,717 shares of the company’s stock, valued at $11,268,263.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Raul Vazquez sold 1,790 shares of Intuit stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $390.37, for a total value of $698,762.30. Following the completion of the sale, the director now owns 2,019 shares in the company, valued at approximately $788,157.03. The disclosure for this sale can be found here. Insiders sold a total of 36,902 shares of company stock worth $16,251,640 in the last three months. 3.27% of the stock is owned by corporate insiders.

About Intuit

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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 ProConnect.

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Institutional Ownership by Quarter for Intuit (NASDAQ:INTU)

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