Okabena Investment Services Inc. Has $1.17 Million Position in Intuit Inc. (NASDAQ:INTU)

Okabena Investment Services Inc. trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 27.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,865 shares of the software maker’s stock after selling 700 shares during the period. Okabena Investment Services Inc.’s holdings in Intuit were worth $1,172,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new position in shares of Intuit during the 4th quarter worth about $25,000. NewSquare Capital LLC grew its stake in Intuit by 72.0% in 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 in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit during the 4th quarter worth approximately $29,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INTU has been the topic of a number of recent analyst reports. Scotiabank lowered their target price on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. BMO Capital Markets dropped their price objective on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Citigroup reduced their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, Mizuho raised their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an “outperform” 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 issued a buy rating to the company. According to MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the transaction, the executive vice president now owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 132,896 shares of company stock valued at $82,946,716 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Shares of Intuit stock opened at $598.92 on Friday. The company’s 50 day moving average price is $595.90 and its two-hundred day moving average price is $622.46. The firm has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week 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.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. Intuit’s dividend 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.