Intuit Inc. (NASDAQ:INTU) Shares Sold by Aviva PLC

Aviva PLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 211,150 shares of the software maker’s stock after selling 3,908 shares during the period. Aviva PLC’s holdings in Intuit were worth $132,708,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quantbot Technologies LP boosted its position in shares of Intuit by 1,027.3% in the 3rd quarter. Quantbot Technologies LP now owns 124 shares of the software maker’s stock valued at $77,000 after purchasing an additional 113 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Intuit by 20.9% in the third quarter. IHT Wealth Management LLC now owns 2,036 shares of the software maker’s stock worth $1,259,000 after buying an additional 352 shares during the period. Quarry LP increased its position in shares of Intuit by 3,171.4% in the third quarter. Quarry LP now owns 458 shares of the software maker’s stock worth $284,000 after acquiring an additional 444 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Intuit by 2.9% during the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 13,350 shares of the software maker’s stock valued at $8,290,000 after acquiring an additional 381 shares during the period. Finally, Two Sigma Advisers LP lifted its position in shares of Intuit by 42.3% in the 3rd quarter. Two Sigma Advisers LP now owns 181,800 shares of the software maker’s stock valued at $112,898,000 after acquiring an additional 54,000 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INTU shares. 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. Scotiabank reduced their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Morgan Stanley raised Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 target price on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average price target of $718.00.

Insider Buying and Selling

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $600.13, for a total value of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares of the company’s stock, valued at $24,119,224.70. The trade was a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company’s stock, valued at $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,862 shares of company stock worth $18,767,673 in the last quarter. 2.68% of the stock is currently owned by company insiders.

Intuit Stock Down 6.2 %

Shares of Intuit stock opened at $561.53 on Friday. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. 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 stock has a 50 day moving average price of $595.64 and a two-hundred day moving average price of $620.96. The stock has a market capitalization of $156.98 billion, a P/E ratio of 54.52, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. 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 payout ratio is presently 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.