Norden Group LLC Sells 46 Shares of Intuit Inc. (NASDAQ:INTU)

Norden Group LLC trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,644 shares of the software maker’s stock after selling 46 shares during the quarter. Norden Group LLC’s holdings in Intuit were worth $1,033,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Smartleaf Asset Management LLC increased its holdings in shares of Intuit by 17.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,538 shares of the software maker’s stock worth $2,230,000 after purchasing an additional 527 shares during the period. Purkiss Capital Advisors LLC acquired a new stake in Intuit during the fourth quarter worth approximately $277,000. Nixon Peabody Trust Co. increased its stake in Intuit by 3.6% during the 4th quarter. Nixon Peabody Trust Co. now owns 1,954 shares of the software maker’s stock worth $1,228,000 after acquiring an additional 67 shares during the period. Middleton & Co. Inc. MA increased its stake in Intuit by 1.0% during the 4th quarter. Middleton & Co. Inc. MA now owns 24,992 shares of the software maker’s stock worth $15,708,000 after acquiring an additional 251 shares during the period. Finally, Richard W. Paul & Associates LLC lifted its position in shares of Intuit by 2.1% during the 4th quarter. Richard W. Paul & Associates LLC now owns 1,346 shares of the software maker’s stock valued at $846,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $646.68, for a total transaction of $2,359,735.32. Following the completion of the transaction, the executive vice president now directly owns 19 shares in the company, valued at $12,286.92. This trade represents a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 7,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total value of $5,063,828.00. Following the completion of the sale, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 218,014 shares of company stock worth $140,855,687. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on INTU. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group raised their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. BMO Capital Markets decreased their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intuit from $600.00 to $640.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $717.88.

Intuit Stock Performance

NASDAQ:INTU opened at $613.84 on Monday. The stock’s 50-day moving average is $605.90 and its 200-day moving average is $627.05. Intuit Inc. has a 1-year low of $553.24 and a 1-year 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. The stock has a market cap of $171.82 billion, a P/E ratio of 59.60, a price-to-earnings-growth ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.