Massachusetts Financial Services Co. MA Sells 65,096 Shares of Intuit Inc. (NASDAQ:INTU)

Massachusetts Financial Services Co. MA lessened its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 949,876 shares of the software maker’s stock after selling 65,096 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.34% of Intuit worth $596,997,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Intuit in the 4th quarter valued at $2,290,419,000. Proficio Capital Partners LLC boosted its position in shares of Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Wellington Management Group LLP grew its stake in shares of Intuit by 13.3% in the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after acquiring an additional 620,559 shares in the last quarter. Raymond James Financial Inc. bought a new position in Intuit during the fourth quarter worth about $300,854,000. Finally, Vanguard Group Inc. raised its stake in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

Insider Buying and Selling at Intuit

In other news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total value of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark P. Notarainni sold 363 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 transaction of $228,145.50. Following the sale, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,334 shares of company stock worth $19,064,325. 2.68% of the stock is currently owned by company insiders.

Intuit Price Performance

Intuit stock opened at $620.91 on Thursday. The company has a market capitalization of $173.58 billion, a PE ratio of 60.28, a P/E/G ratio of 2.85 and a beta of 1.27. 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 50-day moving average price of $596.37 and a two-hundred day moving average price of $621.71. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78.

Intuit Announces Dividend

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 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

Analyst Ratings Changes

Several brokerages have recently commented on INTU. Jefferies Financial Group lowered their target price on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday. BNP Paribas cut Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a report on Wednesday, January 15th. Redburn Atlantic assumed coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $718.00.

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.