Aviva PLC Decreases Position in Intuit Inc. (NASDAQ:INTU)

Aviva PLC lowered its stake in Intuit Inc. (NASDAQ:INTU) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 211,150 shares of the software maker’s stock after selling 3,908 shares during the quarter. Aviva PLC owned about 0.08% of Intuit worth $132,708,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTU. Resona Asset Management Co. Ltd. acquired a new position in shares of Intuit during the fourth quarter worth $53,777,000. ROI Financial Advisors LLC lifted its holdings in Intuit by 1.8% in the 4th quarter. ROI Financial Advisors LLC now owns 2,748 shares of the software maker’s stock worth $1,727,000 after buying an additional 49 shares in the last quarter. Pamalican Asset Management Ltd acquired a new position in Intuit in the 4th quarter worth $3,834,000. PAX Financial Group LLC grew its stake in shares of Intuit by 4.8% during the fourth quarter. PAX Financial Group LLC now owns 1,420 shares of the software maker’s stock valued at $892,000 after acquiring an additional 65 shares in the last quarter. Finally, Resolute Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $210,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU 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 debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business has a 50 day simple moving average of $595.64 and a 200 day simple moving average of $620.96.

Intuit Dividend Announcement

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 issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction that occurred on 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 directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $619.28, for a total transaction of $667,583.84. Following the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,862 shares of company stock valued at $18,767,673 over the last 90 days. 2.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on INTU. BMO Capital Markets lowered their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Citigroup dropped their price target 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. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and upped their price target for the company from $640.00 to $660.00 in a report on Wednesday, March 5th. Scotiabank decreased their price objective on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $785.00 target price (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 given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Intuit presently has a consensus rating of “Moderate Buy” and an average target price of $718.00.

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.