Landscape Capital Management L.L.C. Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

Landscape Capital Management L.L.C. lessened its holdings in Intuit Inc. (NASDAQ:INTU) by 46.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,518 shares of the software maker’s stock after selling 3,035 shares during the period. Landscape Capital Management L.L.C.’s holdings in Intuit were worth $2,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd bought a new position in Intuit in the fourth quarter worth approximately $25,000. NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the fourth quarter valued at $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit during the fourth quarter valued at about $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Insider Activity

In other news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, 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 sold 30,862 shares of company stock valued at $18,767,673 in the last ninety days. Insiders own 2.68% of the company’s stock.

Intuit Stock Performance

Intuit stock opened at $561.53 on Friday. The company’s 50-day moving average price is $595.64 and its 200-day moving average price is $620.96. 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 company has a market cap of $156.98 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

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 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 0.74%. Intuit’s dividend payout ratio (DPR) is presently 38.81%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets lowered their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $718.00.

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.