Elo Mutual Pension Insurance Co Sells 978 Shares of Intuit Inc. (NASDAQ:INTU)

Elo Mutual Pension Insurance Co reduced its position in Intuit Inc. (NASDAQ:INTU) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,579 shares of the software maker’s stock after selling 978 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Intuit were worth $16,076,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Nordea Investment Management AB grew its holdings in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after acquiring an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in Intuit in the fourth quarter worth approximately $621,000. Beacon Investment Advisory Services Inc. lifted its stake in Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after buying an additional 1,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock valued at $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC lifted its position in shares of Intuit by 109.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock valued at $15,502,000 after acquiring an additional 12,916 shares during the period. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 0.6 %

Shares of NASDAQ:INTU opened at $614.86 on Thursday. The company has a market capitalization of $171.89 billion, a PE ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day moving average price of $595.84 and a two-hundred day moving average price of $622.71.

Intuit Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. upgraded shares of Intuit from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 price target (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. BMO Capital Markets decreased their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, Mizuho boosted their price target on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insiders Place Their Bets

In other Intuit news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sandeep Aujla sold 109 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $68,506.50. Following the transaction, the chief financial officer now owns 1,944 shares of the company’s stock, valued at $1,221,804. The trade was a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,896 shares of company stock valued at $82,946,716. Company insiders own 2.68% of the company’s stock.

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.