Prudential Financial Inc. Sells 58,261 Shares of Intuit Inc. (NASDAQ:INTU)

Prudential Financial Inc. decreased its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 20.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 231,301 shares of the software maker’s stock after selling 58,261 shares during the period. Prudential Financial Inc. owned approximately 0.08% of Intuit worth $145,373,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. R Squared Ltd bought a new position in Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the 4th quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Intuit Stock Up 0.6 %

Shares of Intuit stock opened at $604.04 on Monday. The firm has a market cap of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The stock’s 50-day moving average is $596.08 and its 200 day moving average is $622.80. 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 business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Analyst Ratings Changes

Several brokerages recently commented on INTU. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. BMO Capital Markets reduced their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Scotiabank dropped their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 27th. Citigroup decreased their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

Insider Buying and Selling at Intuit

In other Intuit news, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the transaction, the chief executive officer now owns 37,869 shares of the company’s stock, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 117,348 shares of company stock worth $73,515,245. Corporate insiders own 2.68% of the company’s stock.

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.