Intuit Inc. (NASDAQ:INTU) Stock Holdings Reduced by Prudential PLC

Prudential PLC cut its position in shares of Intuit Inc. (NASDAQ:INTU) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,041 shares of the software maker’s stock after selling 2,446 shares during the period. Prudential PLC’s holdings in Intuit were worth $21,395,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in INTU. R Squared Ltd bought a new position in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of Intuit in the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new position in Intuit during the fourth quarter worth $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Down 3.6 %

Shares of INTU stock opened at $598.53 on Friday. Intuit Inc. has a one year low of $553.24 and a one 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 stock has a fifty day moving average price of $596.37 and a 200 day moving average price of $621.54. The stock has a market cap of $167.33 billion, a P/E ratio of 58.11, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insider Activity

In related news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred 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 owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This represents a 13.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,862 shares of company stock worth $18,767,673. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on INTU shares. Scotiabank reduced their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $718.00.

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.