Intuit Inc. (NASDAQ:INTU) Shares Sold by Asset Dedication LLC

Asset Dedication LLC reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 42.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,173 shares of the software maker's stock after selling 1,633 shares during the period. Asset Dedication LLC's holdings in Intuit were worth $1,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Intuit by 68,404.7% in the third quarter. International Assets Investment Management LLC now owns 484,328 shares of the software maker's stock valued at $300,768,000 after purchasing an additional 483,621 shares in the last quarter. Holocene Advisors LP grew its position in Intuit by 99.6% in the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker's stock worth $388,487,000 after acquiring an additional 312,212 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Intuit by 83.2% in the 4th quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after purchasing an additional 268,060 shares during the last quarter. State Street Corp boosted its holdings in shares of Intuit by 1.8% in the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the period. Finally, Clearbridge Investments LLC lifted its position in Intuit by 21.3% in the second quarter. Clearbridge Investments LLC now owns 964,328 shares of the software maker's stock worth $633,766,000 after buying an additional 169,190 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

INTU has been the topic of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $760.00 price objective on shares of Intuit in a research report on Friday, November 22nd. Jefferies Financial Group boosted their target price on Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on Intuit from $600.00 to $640.00 and gave the company a "neutral" rating in a research report on Friday, November 22nd. Finally, Oppenheimer raised their price target on shares of Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $726.53.

Insider Activity at Intuit

In other news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 1,864 shares in the company, valued at approximately $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott D. Cook sold 75,000 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $641.82, for a total value of $48,136,500.00. Following the completion of the transaction, the insider now directly owns 6,378,105 shares in the company, valued at approximately $4,093,595,351.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 293,014 shares of company stock valued at $188,992,187 in the last three months. 2.68% of the stock is owned by insiders.

Intuit Stock Down 0.5 %

Shares of NASDAQ INTU traded down $3.09 during trading hours on Friday, hitting $601.51. 1,640,029 shares of the stock were exchanged, compared to its average volume of 1,560,666. Intuit Inc. has a 12 month low of $557.29 and a 12 month high of $714.78. The firm has a fifty day moving average price of $630.95 and a 200-day moving average price of $633.66. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a market cap of $168.37 billion, a PE ratio of 58.40, a PEG ratio of 2.92 and a beta of 1.25.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Intuit had a return on equity of 18.25% and a net margin of 17.59%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business's revenue for the quarter was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Intuit Inc. will post 14.09 EPS for the current year.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 9th were issued a dividend of $1.04 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.69%. Intuit's dividend payout ratio (DPR) is currently 40.39%.

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.