Ironwood Wealth Management LLC. Sells 400 Shares of Intuit Inc. (NASDAQ:INTU)

Ironwood Wealth Management LLC. reduced its holdings in Intuit Inc. (NASDAQ:INTU) by 8.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,408 shares of the software maker’s stock after selling 400 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in Intuit were worth $2,020,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Journey Advisory Group LLC increased its holdings in Intuit by 2.8% in the first quarter. Journey Advisory Group LLC now owns 878 shares of the software maker’s stock worth $391,000 after purchasing an additional 24 shares in the last quarter. Ritholtz Wealth Management grew its stake in Intuit by 0.9% in the second quarter. Ritholtz Wealth Management now owns 2,767 shares of the software maker’s stock valued at $1,268,000 after acquiring an additional 24 shares during the period. SeaCrest Wealth Management LLC grew its stake in Intuit by 3.1% in the fourth quarter. SeaCrest Wealth Management LLC now owns 806 shares of the software maker’s stock valued at $314,000 after acquiring an additional 24 shares during the period. Martin Capital Advisors LLP grew its stake in Intuit by 0.5% in the first quarter. Martin Capital Advisors LLP now owns 5,523 shares of the software maker’s stock valued at $2,462,000 after acquiring an additional 25 shares during the period. Finally, W.H. Cornerstone Investments Inc. grew its stake in Intuit by 4.1% in the second quarter. W.H. Cornerstone Investments Inc. now owns 633 shares of the software maker’s stock valued at $290,000 after acquiring an additional 25 shares during the period. 82.63% of the stock is currently owned by institutional investors.

Intuit Trading Down 0.4 %

Shares of Intuit stock opened at $498.51 on Monday. Intuit Inc. has a 12-month low of $352.63 and a 12-month high of $558.64. The company has a market cap of $139.73 billion, a price-to-earnings ratio of 59.07, a PEG ratio of 2.97 and a beta of 1.20. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $523.05 and its 200-day moving average price is $481.81.

Intuit (NASDAQ:INTU) last announced its quarterly earnings results on Thursday, August 24th. The software maker reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.22. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.64 billion. Intuit had a net margin of 16.59% and a return on equity of 16.61%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.22 earnings per share. On average, equities analysts expect that Intuit Inc. will post 11.25 earnings per share for the current fiscal year.

Intuit Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 17th. Investors of record on Monday, October 9th were paid a $0.90 dividend. This is an increase from Intuit’s previous quarterly dividend of $0.78. This represents a $3.60 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date was Thursday, October 5th. Intuit’s dividend payout ratio (DPR) is currently 42.65%.

Insider Activity at Intuit

In other Intuit news, EVP Marianna Tessel sold 7,310 shares of Intuit stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $531.31, for a total transaction of $3,883,876.10. Following the transaction, the executive vice president now directly owns 28,840 shares of the company’s stock, valued at $15,322,980.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuit news, EVP Marianna Tessel sold 7,310 shares of Intuit stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $531.31, for a total transaction of $3,883,876.10. Following the transaction, the executive vice president now directly owns 28,840 shares of the company’s stock, valued at $15,322,980.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark P. Notarainni sold 7,274 shares of Intuit stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $548.30, for a total transaction of $3,988,334.20. Following the transaction, the executive vice president now directly owns 869 shares in the company, valued at $476,472.70. The disclosure for this sale can be found here. Insiders have sold 41,073 shares of company stock valued at $22,091,651 over the last three months. 3.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on INTU shares. BMO Capital Markets raised their price objective on Intuit from $560.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. StockNews.com initiated coverage on Intuit in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Jefferies Financial Group upped their target price on shares of Intuit from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Credit Suisse Group upped their target price on shares of Intuit from $500.00 to $570.00 and gave the stock an “outperform” rating in a research note on Friday, August 25th. Finally, Stifel Nicolaus upped their target price on shares of Intuit from $475.00 to $550.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Three analysts have rated the stock with a hold rating and twenty 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 price target of $567.41.

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.