Intuit Inc. (NASDAQ:INTU) Position Cut by AlphaQuest LLC

AlphaQuest LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU) by 43.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 933 shares of the software maker’s stock after selling 719 shares during the quarter. AlphaQuest LLC’s holdings in Intuit were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTU. Proficio Capital Partners LLC grew its holdings in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock worth $668,595,000 after buying an additional 1,062,847 shares in the last quarter. Raymond James Financial Inc. bought a new position in Intuit during the 4th quarter valued at $300,854,000. Holocene Advisors LP boosted its stake in Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after purchasing an additional 312,212 shares in the last quarter. Nordea Investment Management AB boosted its stake in Intuit by 83.2% during the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Finally, State Street Corp boosted its stake in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after purchasing an additional 221,885 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

Intuit Price Performance

INTU opened at $586.71 on Wednesday. The stock has a fifty day moving average of $600.43 and a 200-day moving average of $624.29. The firm has a market capitalization of $164.02 billion, a P/E ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

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 issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. Intuit’s payout ratio is currently 38.81%.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at approximately $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 213,111 shares of company stock worth $137,327,184 over the last quarter. Corporate insiders own 2.68% of the company’s stock.

Analyst Ratings Changes

INTU has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $721.61.

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.