Intuit Inc. (NASDAQ:INTU) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in Intuit Inc. (NASDAQ:INTU) by 5.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,689 shares of the software maker’s stock after selling 264 shares during the period. Intech Investment Management LLC’s holdings in Intuit were worth $2,947,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after acquiring an additional 221,885 shares during the period. Geode Capital Management LLC boosted its stake in shares of Intuit by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after acquiring an additional 80,463 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Intuit by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker’s stock worth $2,376,984,000 after acquiring an additional 107,482 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Intuit by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker’s stock worth $1,499,744,000 after acquiring an additional 88,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intuit by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker’s stock worth $1,428,790,000 after acquiring an additional 87,517 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Trading Up 0.7 %

Shares of INTU opened at $603.11 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $168.61 billion, a P/E ratio of 58.55, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock’s fifty day simple moving average is $596.98 and its 200 day simple moving average is $623.15. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Wall Street Analyst Weigh In

INTU has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. BMO Capital Markets lowered their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Piper Sandler reiterated an “overweight” rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Stifel Nicolaus lowered their target price on Intuit from $795.00 to $725.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Finally, Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the completion of the sale, the chief financial officer now owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,646 shares of company stock valued at $72,494,045. 2.68% of the stock is currently owned by company insiders.

Intuit Company 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.