PFG Advisors Sells 776 Shares of Intuit Inc. (NASDAQ:INTU)

PFG Advisors lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 20.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,041 shares of the software maker’s stock after selling 776 shares during the quarter. PFG Advisors’ holdings in Intuit were worth $1,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC increased its position in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the fourth quarter valued at approximately $29,000. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,301 shares of company stock valued at $121,470,200. Company insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on INTU shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $760.00 target price on shares of Intuit in a research report on Friday, November 22nd. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research report on Wednesday, January 15th. Jefferies Financial Group lifted their target price on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Stifel Nicolaus cut their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Trading Up 0.8 %

Shares of Intuit stock opened at $591.14 on Thursday. The company has a market capitalization of $165.26 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The company has a fifty day moving average of $599.68 and a 200 day moving average of $624.06. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week 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 issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is currently 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.