Intuit Inc. (NASDAQ:INTU) Shares Sold by Troy Asset Management Ltd

Troy Asset Management Ltd reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,079 shares of the software maker’s stock after selling 592 shares during the period. Intuit comprises approximately 0.9% of Troy Asset Management Ltd’s holdings, making the stock its 24th largest holding. Troy Asset Management Ltd’s holdings in Intuit were worth $27,075,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Intuit during the 4th quarter valued at about $2,290,419,000. Proficio Capital Partners LLC boosted its stake in Intuit by 112,233.1% in the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares during the period. Raymond James Financial Inc. acquired a new position in Intuit in the fourth quarter valued at approximately $300,854,000. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Finally, Holocene Advisors LP raised its position in shares of Intuit by 99.6% during the 3rd quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock worth $388,487,000 after purchasing an additional 312,212 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intuit

In related news, EVP Mark P. Notarainni sold 363 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the completion of the sale, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $11,941.50. This represents a 95.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at approximately $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 132,896 shares of company stock valued at $82,946,716. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target on the stock in a research note on Wednesday, February 26th. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Redburn Atlantic initiated coverage on Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. Finally, StockNews.com lowered Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $598.92 on Friday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock has a market capitalization of $167.44 billion, a price-to-earnings ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. 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 stock’s fifty day simple moving average is $595.90 and its 200 day simple moving average is $622.46.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.69%. Intuit’s payout ratio is presently 38.81%.

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.