Meeder Asset Management Inc. Trims Stake in Intuit Inc. (NASDAQ:INTU)

Meeder Asset Management Inc. cut its holdings in Intuit Inc. (NASDAQ:INTU) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,058 shares of the software maker’s stock after selling 203 shares during the period. Meeder Asset Management Inc.’s holdings in Intuit were worth $1,922,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Intuit by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the period. State Street Corp increased its position in Intuit by 1.8% in the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock worth $7,648,910,000 after buying an additional 221,885 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Intuit by 1.4% in the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker’s stock worth $3,701,762,000 after buying an additional 80,463 shares during the period. Wellington Management Group LLP lifted its position in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after buying an additional 620,559 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Intuit during the 4th quarter valued at approximately $2,290,419,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on INTU shares. 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 research note on Wednesday, February 26th. Citigroup decreased 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. BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. StockNews.com cut Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $640.00 to $660.00 in a research note on Wednesday, March 5th. One 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 company’s stock. Based on data from MarketBeat, Intuit has an average rating of “Moderate Buy” and an average price target of $721.61.

Intuit Trading Down 2.7 %

Shares of NASDAQ INTU opened at $598.92 on Monday. The stock has a market capitalization of $167.44 billion, a P/E ratio of 58.15, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 1-year low of $553.24 and a 1-year high of $714.78. The business’s 50 day moving average is $595.90 and its two-hundred day moving average is $622.23. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given 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 0.69%. Intuit’s dividend payout ratio is presently 38.81%.

Insiders Place Their Bets

In related news, Director Eve B. Burton sold 1,702 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Scott D. Cook sold 6,446 shares of the business’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 value of $3,895,059.96. Following the transaction, the insider now owns 6,219,900 shares of the company’s stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock valued at $82,946,716 over the last three months. 2.68% of the stock is owned by company insiders.

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.