Amalgamated Bank Has $37.85 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

Amalgamated Bank reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,223 shares of the software maker’s stock after selling 3,751 shares during the quarter. Amalgamated Bank’s holdings in Intuit were worth $37,850,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Intuit in the fourth quarter worth approximately $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Intuit in the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the fourth quarter worth approximately $28,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit in the fourth quarter worth approximately $29,000. Finally, Denver PWM LLC purchased a new stake in shares of Intuit in the third quarter worth approximately $32,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Trading Up 0.3 %

NASDAQ:INTU opened at $567.24 on Tuesday. The company has a market cap of $158.78 billion, a P/E ratio of 55.07, a P/E/G ratio of 2.85 and a beta of 1.24. The stock’s fifty day moving average price is $610.15 and its two-hundred day moving average price is $628.07. Intuit Inc. has a 1 year low of $557.29 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.

Insiders Place Their Bets

In related news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total value of $15,856,983.80. Following the sale, the executive vice president now owns 489 shares in the company, valued at approximately $325,664.22. This trade represents a 97.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 218,014 shares of company stock worth $140,855,687 over the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. JPMorgan Chase & Co. increased their price objective on Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Jefferies Financial Group upped their target price on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a 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 $726.71.

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.