Swiss National Bank Sells 37,900 Shares of Intuit Inc. (NASDAQ:INTU)

Swiss National Bank reduced its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 791,800 shares of the software maker’s stock after selling 37,900 shares during the quarter. Swiss National Bank owned about 0.28% of Intuit worth $497,646,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INTU. R Squared Ltd acquired a new position in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Intuit in the 4th quarter valued at $28,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Intuit in the 4th quarter valued at $29,000. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INTU shares. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. Barclays decreased their price objective on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a report on Wednesday, February 26th. Finally, Citigroup reduced their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Price Performance

NASDAQ:INTU opened at $591.14 on Thursday. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a market cap of $165.26 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.85 and a beta of 1.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock’s 50-day simple moving average is $599.68 and its 200 day simple moving average is $624.06.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Transactions at Intuit

In other Intuit news, CFO Sandeep Aujla sold 109 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the sale, the chief financial officer now directly owns 1,944 shares of the company’s stock, valued at approximately $1,221,804. This represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The shares were 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 of the company’s stock, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,301 shares of company stock worth $121,470,200 in the last 90 days. Corporate insiders own 2.68% of the company’s stock.

About Intuit

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.