Intuit Inc. (NASDAQ:INTU) Position Reduced by Scott & Selber Inc.

Scott & Selber Inc. reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,212 shares of the software maker’s stock after selling 105 shares during the quarter. Scott & Selber Inc.’s holdings in Intuit were worth $2,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Intuit in the fourth quarter valued at $621,000. Harvest Portfolios Group Inc. lifted its position in shares of Intuit by 5.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 35,902 shares of the software maker’s stock valued at $22,295,000 after acquiring an additional 1,853 shares during the last quarter. Retireful LLC bought a new stake in shares of Intuit during the 3rd quarter worth $740,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Intuit in the 3rd quarter worth $56,144,000. 83.66% of the stock is owned by institutional investors.

Intuit Trading Down 2.1 %

Shares of NASDAQ INTU opened at $601.09 on Tuesday. The business has a 50 day simple moving average of $605.15 and a 200 day simple moving average of $626.69. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The stock has a market cap of $168.04 billion, a price-to-earnings ratio of 58.36, a PEG ratio of 2.85 and a beta of 1.24. 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 Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on INTU shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $760.00 target price on shares of Intuit in a report on Friday, November 22nd. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a research note on Wednesday, February 26th. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. BNP Paribas downgraded shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 price target for the company. in a research report on Wednesday, January 15th. Finally, Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuit has an average rating of “Moderate Buy” and a consensus price target of $720.50.

Insider Transactions at Intuit

In other news, EVP Mark P. Notarainni sold 3,649 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $646.68, for a total value of $2,359,735.32. Following the completion of the sale, the executive vice president now directly owns 19 shares in the company, valued at approximately $12,286.92. The trade was a 99.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 7,700 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now owns 33,916 shares in the company, valued at $22,304,518.24. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,460 shares of company stock worth $144,750,747 in the last 90 days. 2.68% of the stock is owned by insiders.

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.