Intuit Inc. (NASDAQ:INTU) Shares Sold by Earnest Partners LLC

Earnest Partners LLC decreased its position in Intuit Inc. (NASDAQ:INTU) by 14.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,791 shares of the software maker’s stock after selling 3,824 shares during the quarter. Earnest Partners LLC’s holdings in Intuit were worth $14,324,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Scotiabank upgraded Intuit from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $600.00 to $700.00 in a research report on Thursday, April 17th. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Hsbc Global Res upgraded Intuit from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, HSBC upgraded Intuit from a “hold” rating to a “buy” rating and set a $699.00 price objective for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $717.53.

Intuit Trading Up 1.5 %

Shares of Intuit stock opened at $624.12 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The firm has a market cap of $174.48 billion, a price-to-earnings ratio of 60.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The business has a fifty day simple moving average of $593.48 and a 200-day simple moving average of $616.08. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78.

Intuit Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other news, EVP Marianna Tessel sold 7,385 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the sale, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott D. Cook sold 6,446 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock valued at $14,347,731 over the last three months. Company 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.