Fisher Asset Management LLC Reduces Position in Intuit Inc. (NASDAQ:INTU)

Fisher Asset Management LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 4.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,642,780 shares of the software maker’s stock after selling 184,891 shares during the period. Intuit comprises approximately 0.9% of Fisher Asset Management LLC’s portfolio, making the stock its 29th biggest holding. Fisher Asset Management LLC owned about 1.30% of Intuit worth $2,289,488,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brown Financial Advisors raised its position in Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after purchasing an additional 15 shares during the last quarter. Truvestments Capital LLC increased its stake in shares of Intuit by 1.5% during the third quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker’s stock valued at $669,000 after buying an additional 16 shares during the period. True North Advisors LLC raised its holdings in shares of Intuit by 4.3% during the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after acquiring an additional 17 shares in the last quarter. Great Diamond Partners LLC lifted its stake in Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after acquiring an additional 17 shares during the period. Finally, Cornerstone Wealth Group LLC boosted its holdings in Intuit by 2.7% in the third quarter. Cornerstone Wealth Group LLC now owns 686 shares of the software maker’s stock valued at $426,000 after acquiring an additional 18 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTU has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday. Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, BNP Paribas lowered Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $717.88.

Insider Transactions at Intuit

In other news, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alex G. Balazs sold 23,810 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the completion of the transaction, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 218,014 shares of company stock worth $140,855,687. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of INTU stock opened at $613.84 on Friday. The company has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The company’s 50-day moving average is $605.90 and its 200 day moving average is $627.25.

Intuit Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 dividend yield of 0.68%. Intuit’s dividend payout ratio is presently 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.