Atria Investments Inc Sells 1,306 Shares of Intuit Inc. (NASDAQ:INTU)

Atria Investments Inc lessened its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 26,907 shares of the software maker’s stock after selling 1,306 shares during the period. Atria Investments Inc’s holdings in Intuit were worth $16,911,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in Intuit in the 4th quarter valued at approximately $621,000. Harvest Portfolios Group Inc. boosted its holdings in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the last quarter. Retireful LLC bought a new position in Intuit in the third quarter valued at about $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Intuit in the 3rd quarter worth $56,144,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Wall Street Analysts Forecast Growth

INTU has been the subject of a number of research reports. Oppenheimer increased their price target on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Barclays reduced their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Morgan Stanley upgraded Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $720.50.

Insider Activity

In other Intuit news, EVP Alex G. Balazs sold 23,810 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. The trade was a 97.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,460 shares of company stock worth $144,750,747 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Intuit Stock Down 0.5 %

Shares of INTU stock opened at $598.07 on Wednesday. The stock’s fifty day moving average price is $604.21 and its 200 day moving average price is $626.30. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The company has a market cap of $167.20 billion, a price-to-earnings ratio of 58.07, 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 current ratio of 1.24 and a quick ratio of 1.24.

Intuit Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit’s payout ratio is 38.81%.

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.