Larson Financial Group LLC Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Larson Financial Group LLC cut its holdings in Intuit Inc. (NASDAQ:INTU) by 30.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208 shares of the software maker’s stock after selling 92 shares during the quarter. Larson Financial Group LLC’s holdings in Intuit were worth $131,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. HM Payson & Co. boosted its stake in shares of Intuit by 0.5% in the fourth quarter. HM Payson & Co. now owns 10,861 shares of the software maker’s stock valued at $6,826,000 after buying an additional 53 shares in the last quarter. AMF Tjanstepension AB boosted its stake in shares of Intuit by 35.4% in the fourth quarter. AMF Tjanstepension AB now owns 34,184 shares of the software maker’s stock valued at $21,489,000 after buying an additional 8,937 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new stake in shares of Intuit in the fourth quarter valued at approximately $3,331,000. Banco Santander S.A. boosted its stake in shares of Intuit by 5.2% in the fourth quarter. Banco Santander S.A. now owns 4,144 shares of the software maker’s stock valued at $2,605,000 after buying an additional 204 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in shares of Intuit by 3.8% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 260,389 shares of the software maker’s stock valued at $176,650,000 after buying an additional 9,514 shares in the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares of the company’s stock, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,111 shares of company stock worth $137,327,184. 2.68% of the stock is currently owned by insiders.

Intuit Stock Performance

Intuit stock opened at $586.71 on Wednesday. The firm has a market capitalization of $164.02 billion, a P/E ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. The stock has a fifty day moving average price of $600.43 and a 200 day moving average price of $624.29. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.71%. Intuit’s payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of analyst reports. Scotiabank decreased their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Mizuho lifted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Finally, Stifel Nicolaus reduced their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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 four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.