AlphaQuest LLC Sells 719 Shares of Intuit Inc. (NASDAQ:INTU)

AlphaQuest LLC reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 43.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 933 shares of the software maker's stock after selling 719 shares during the quarter. AlphaQuest LLC's holdings in Intuit were worth $586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. R Squared Ltd bought a new position in Intuit in the fourth quarter worth about $25,000. NewSquare Capital LLC grew its stake in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Intuit during the fourth quarter worth about $29,000. 83.66% of the stock is currently owned by institutional investors.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 23,810 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $665.98, for a total transaction of $15,856,983.80. Following the sale, the executive vice president now directly owns 489 shares in the company, valued at approximately $325,664.22. This represents a 97.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the sale, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. The trade was a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 213,111 shares of company stock worth $137,327,184. 2.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on INTU. Scotiabank dropped their price target on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. Morgan Stanley raised Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price for the company in a research note on Wednesday, February 26th. Royal Bank of Canada reissued an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $721.61.

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Intuit Trading Up 1.2 %

Shares of NASDAQ INTU opened at $586.71 on Wednesday. The stock's 50 day moving average price is $600.43 and its two-hundred day moving average price is $624.29. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The stock has a market capitalization of $164.02 billion, a P/E ratio of 56.96, a PEG ratio of 2.85 and a beta of 1.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The business also recently declared 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit's payout ratio is 38.81%.

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.

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