Intuit Inc. (NASDAQ:INTU) Shares Sold by Sit Investment Associates Inc.

Sit Investment Associates Inc. decreased its holdings in Intuit Inc. (NASDAQ:INTU) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,492 shares of the software maker’s stock after selling 1,095 shares during the quarter. Sit Investment Associates Inc.’s holdings in Intuit were worth $15,393,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of INTU. R Squared Ltd acquired a new position in Intuit during the 4th quarter valued at about $25,000. NewSquare Capital LLC boosted its holdings in shares of Intuit by 72.0% in 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. Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter valued at approximately $28,000. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter worth approximately $28,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Intuit during the 4th quarter valued at $28,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Down 6.2 %

Shares of Intuit stock opened at $561.53 on Friday. The firm has a market cap of $156.98 billion, a price-to-earnings ratio of 54.52, a P/E/G ratio of 2.85 and a beta of 1.27. The stock has a 50-day simple moving average of $595.64 and a 200-day simple moving average of $620.96. Intuit Inc. has a 52-week low of $553.24 and a 52-week 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.

Intuit Dividend Announcement

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 given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Wall Street Analyst Weigh In

INTU has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a report on Monday, March 31st. BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus price target of $718.00.

Insider Activity

In related news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $612.46, for a total value of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,862 shares of company stock worth $18,767,673. 2.68% of the stock is owned by corporate insiders.

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.