Tredje AP fonden Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Tredje AP fonden cut its holdings in Intuit Inc. (NASDAQ:INTU) by 32.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,643 shares of the software maker’s stock after selling 23,254 shares during the period. Tredje AP fonden’s holdings in Intuit were worth $29,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INTU. Nations Financial Group Inc. IA ADV boosted its position in shares of Intuit by 22.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,016 shares of the software maker’s stock worth $631,000 after buying an additional 183 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Intuit in the 3rd quarter worth about $1,539,000. First National Trust Co raised its stake in Intuit by 6.8% in the 3rd quarter. First National Trust Co now owns 1,067 shares of the software maker’s stock valued at $663,000 after purchasing an additional 68 shares during the last quarter. Haverford Trust Co raised its stake in Intuit by 0.7% in the 3rd quarter. Haverford Trust Co now owns 52,913 shares of the software maker’s stock valued at $32,859,000 after purchasing an additional 375 shares during the last quarter. Finally, Simmons Bank raised its stake in Intuit by 2.3% in the 3rd quarter. Simmons Bank now owns 842 shares of the software maker’s stock valued at $523,000 after purchasing an additional 19 shares during the last quarter. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on INTU shares. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group boosted their target price on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One equities research 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. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 73,655 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $625.89, for a total value of $16,624,890.18. Following the sale, the chief executive officer now owns 37,869 shares of the company’s stock, valued at $23,701,828.41. The trade was a 41.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Up 0.8 %

Shares of NASDAQ:INTU opened at $591.14 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78. The stock has a market capitalization of $165.26 billion, a P/E ratio of 57.39, a PEG ratio of 2.85 and a beta of 1.27. The stock has a 50-day simple moving average of $599.68 and a 200-day simple moving average of $624.06.

Intuit Announces Dividend

The company 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 dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s payout ratio is currently 38.81%.

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.