Intuit Inc. (NASDAQ:INTU) Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,907 shares of the software maker's stock after selling 1,306 shares during the quarter. Atria Investments Inc's holdings in Intuit were worth $16,911,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State Street Corp grew its holdings in Intuit by 1.8% during the 3rd quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock valued at $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intuit by 1.4% during the third quarter. Geode Capital Management LLC now owns 5,978,713 shares of the software maker's stock valued at $3,701,762,000 after purchasing an additional 80,463 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Intuit by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 3,827,671 shares of the software maker's stock valued at $2,376,984,000 after acquiring an additional 107,482 shares during the period. Bank of New York Mellon Corp grew its stake in Intuit by 3.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock valued at $1,499,744,000 after purchasing an additional 88,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intuit by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,300,789 shares of the software maker's stock worth $1,428,790,000 after buying an additional 87,517 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. BMO Capital Markets reduced 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. Piper Sandler reaffirmed an "overweight" rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Morgan Stanley raised Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. Finally, Oppenheimer upped their price objective on shares of Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a research report 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $721.61.

Insider Activity

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company's stock, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 35,776 shares in the company, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,460 shares of company stock valued at $144,750,747. Company insiders own 2.68% of the company's stock.

Intuit Trading Up 3.3 %

Shares of NASDAQ:INTU traded up $19.44 during midday trading on Wednesday, reaching $617.51. 1,614,913 shares of the company's stock were exchanged, compared to its average volume of 1,910,791. The firm's 50 day simple moving average is $603.65 and its two-hundred day simple moving average is $626.24. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week 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 stock has a market cap of $172.63 billion, a price-to-earnings ratio of 59.95, a P/E/G ratio of 2.85 and a beta of 1.24.

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 paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is 38.81%.

Intuit Company 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.