Corient Private Wealth LLC Sells 9,074 Shares of Intuit Inc. (NASDAQ:INTU)

Corient Private Wealth LLC decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,562 shares of the software maker’s stock after selling 9,074 shares during the period. Corient Private Wealth LLC’s holdings in Intuit were worth $78,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Avalon Trust Co lifted its holdings in Intuit by 12.7% during the 4th quarter. Avalon Trust Co now owns 177 shares of the software maker’s stock valued at $111,000 after buying an additional 20 shares in the last quarter. Choate Investment Advisors raised its position in Intuit by 6.5% during the 4th quarter. Choate Investment Advisors now owns 2,580 shares of the software maker’s stock valued at $1,622,000 after purchasing an additional 158 shares in the last quarter. Diversified Enterprises LLC purchased a new stake in shares of Intuit in the 4th quarter worth $200,000. Natixis Advisors LLC lifted its stake in Intuit by 1.0% in the fourth quarter. Natixis Advisors LLC now owns 408,390 shares of the software maker’s stock worth $256,673,000 after acquiring an additional 3,854 shares during the period. Finally, Harrington Investments INC grew its holdings in Intuit by 3.2% during the 4th quarter. Harrington Investments INC now owns 4,785 shares of the software maker’s stock worth $3,008,000 after acquiring an additional 148 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Insider Activity

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares in the company, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,301 shares of company stock valued at $121,470,200 in the last three months. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INTU shares. Citigroup lowered their price target on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. Finally, Scotiabank reduced their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

Shares of INTU stock opened at $598.80 on Monday. The stock has a market cap of $167.40 billion, a PE ratio of 58.14, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The business has a 50-day simple moving average of $598.23 and a 200-day simple moving average of $623.66. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s payout ratio is 38.81%.

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.