Intuit Inc. (NASDAQ:INTU) Holdings Lowered by Roberts Glore & Co. Inc. IL

Roberts Glore & Co. Inc. IL trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,615 shares of the software maker’s stock after selling 55 shares during the period. Roberts Glore & Co. Inc. IL’s holdings in Intuit were worth $1,644,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the fourth 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 last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the fourth quarter valued at $29,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 220,811 shares of company stock valued at $142,391,012. Insiders own 2.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INTU shares. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit 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. Citigroup reduced their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 price objective (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 given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $609.61 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $170.42 billion, a price-to-earnings ratio of 59.19, a P/E/G ratio of 2.85 and a beta of 1.27. The business’s 50-day simple moving average is $602.28 and its 200-day simple moving average is $625.44. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders 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 dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

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.