Intuit Inc. (NASDAQ:INTU) Shares Sold by Ithaka Group LLC

Ithaka Group LLC lowered its holdings in Intuit Inc. (NASDAQ:INTU) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,406 shares of the software maker’s stock after selling 666 shares during the quarter. Intuit makes up about 1.8% of Ithaka Group LLC’s portfolio, making the stock its 20th biggest holding. Ithaka Group LLC’s holdings in Intuit were worth $9,683,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Nordea Investment Management AB raised its holdings 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 worth $371,984,000 after acquiring an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in Intuit during the 4th quarter valued at $621,000. Retireful LLC bought a new stake in shares of Intuit in the 3rd quarter worth about $740,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Intuit in the third quarter valued at approximately $56,144,000. Finally, Howe & Rusling Inc. grew its holdings in Intuit by 8.0% during the 3rd quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker’s stock worth $6,742,000 after acquiring an additional 808 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on INTU shares. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. JPMorgan Chase & Co. upgraded Intuit from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Jefferies Financial Group upped their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. BMO Capital Markets reduced their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on shares of Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating on the stock. 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’s stock. According to data from 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 1 year low of $553.24 and a 1 year 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 current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $599.68 and a 200 day simple moving average of $624.06.

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 is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.70%. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling

In related news, CEO Sasan K. Goodarzi sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the transaction, the chief executive officer now directly owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company’s stock in a transaction dated 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 $3,758,436,774. This represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,301 shares of company stock worth $121,470,200. Company 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.