Amica Mutual Insurance Co. Sells 3,221 Shares of Intuit Inc. (NASDAQ:INTU)

Amica Mutual Insurance Co. trimmed its position in shares of Intuit Inc. (NASDAQ:INTU) by 21.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,001 shares of the software maker’s stock after selling 3,221 shares during the period. Amica Mutual Insurance Co.’s holdings in Intuit were worth $7,543,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTU. Nordea Investment Management AB boosted its stake in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after purchasing an additional 268,060 shares during the period. Whalen Wealth Management Inc. bought a new stake in Intuit during the 4th quarter valued at about $621,000. Beacon Investment Advisory Services Inc. boosted its position in Intuit by 3.8% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker’s stock valued at $27,223,000 after buying an additional 1,602 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Intuit by 2.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker’s stock worth $107,854,000 after acquiring an additional 3,648 shares in the last quarter. Finally, Douglas Lane & Associates LLC increased its position in shares of Intuit by 109.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker’s stock worth $15,502,000 after acquiring an additional 12,916 shares during the period. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on 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 owns 8 shares of the company’s stock, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 132,896 shares of company stock worth $82,946,716 over the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Piper Sandler restated an “overweight” rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Scotiabank lowered their price objective 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. Finally, Citigroup cut their target price 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 research 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. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Intuit Stock Down 0.6 %

Shares of INTU stock opened at $614.86 on Thursday. The stock’s fifty day moving average price is $595.84 and its 200 day moving average price is $622.71. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The company has a market cap of $171.89 billion, a price-to-earnings ratio of 59.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s payout ratio is 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.