West Family Investments Inc. Reduces Stock Holdings in Intuit Inc. (NASDAQ:INTU)

West Family Investments Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 29.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 522 shares of the software maker’s stock after selling 218 shares during the quarter. West Family Investments Inc.’s holdings in Intuit were worth $328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTU. R Squared Ltd purchased a new position in Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC raised its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in Intuit during the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in Intuit in the fourth quarter worth $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Stock Performance

NASDAQ INTU opened at $609.61 on Friday. The firm has a market capitalization of $170.42 billion, a P/E ratio of 59.19, a PEG ratio of 2.85 and a beta of 1.27. The stock has a 50-day simple moving average of $602.28 and a two-hundred day simple moving average of $625.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78.

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 dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 7,700 shares of Intuit stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $657.64, for a total transaction of $5,063,828.00. Following the completion of the transaction, the executive vice president now directly owns 33,916 shares of the company’s stock, valued at $22,304,518.24. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,811 shares of company stock valued at $142,391,012. 2.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INTU. JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $640.00 to $660.00 in a research report on Wednesday. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Royal Bank of Canada restated an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Jefferies Financial Group increased their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Stifel Nicolaus lowered their target price on shares of Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

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.