Erste Asset Management GmbH Sells 18,655 Shares of Intuit Inc. (NASDAQ:INTU)

Erste Asset Management GmbH trimmed its position in Intuit Inc. (NASDAQ:INTU) by 24.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 57,677 shares of the software maker’s stock after selling 18,655 shares during the period. Erste Asset Management GmbH’s holdings in Intuit were worth $36,786,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of INTU. Nations Financial Group Inc. IA ADV lifted its stake in shares of Intuit by 22.0% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 1,016 shares of the software maker’s stock valued at $631,000 after acquiring an additional 183 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Intuit in the 3rd quarter valued at $1,539,000. First National Trust Co lifted its stake in shares of Intuit by 6.8% in the 3rd quarter. First National Trust Co now owns 1,067 shares of the software maker’s stock valued at $663,000 after acquiring an additional 68 shares during the last quarter. Haverford Trust Co increased its holdings in Intuit by 0.7% in the third quarter. Haverford Trust Co now owns 52,913 shares of the software maker’s stock valued at $32,859,000 after purchasing an additional 375 shares during the period. Finally, Simmons Bank increased its holdings in Intuit by 2.3% in the third quarter. Simmons Bank now owns 842 shares of the software maker’s stock valued at $523,000 after purchasing an additional 19 shares during the period. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 26,562 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $625.89, for a total transaction of $16,624,890.18. Following the completion of the transaction, the chief executive officer now directly owns 37,869 shares in the company, valued at approximately $23,701,828.41. The trade was a 41.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,301 shares of company stock valued at $121,470,200 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

INTU has been the subject of a number of recent research reports. Scotiabank decreased their price objective on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their price objective on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They issued a “neutral” rating for the company. Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Intuit Price Performance

INTU stock opened at $591.14 on Thursday. The stock has a market capitalization of $165.26 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The company’s 50-day moving average is $599.68 and its 200-day moving average is $624.06. 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 Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.70%. Intuit’s dividend payout ratio (DPR) 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.