Bank of Montreal Can Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Bank of Montreal Can lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 367,912 shares of the software maker's stock after selling 32,239 shares during the period. Bank of Montreal Can owned about 0.13% of Intuit worth $231,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Intuit during the fourth quarter valued at about $25,000. NewSquare Capital LLC lifted its position in Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit in the fourth quarter worth $28,000. Finally, Summit Securities Group LLC acquired a new position in shares of Intuit during the fourth quarter worth $28,000. 83.66% of the stock is currently owned by institutional investors.

Intuit Stock Performance

INTU traded up $9.57 on Friday, reaching $587.04. The stock had a trading volume of 1,479,882 shares, compared to its average volume of 1,568,333. The business's 50-day moving average price is $591.70 and its two-hundred day moving average price is $617.42. The company has a market cap of $164.11 billion, a P/E ratio of 56.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

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Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit's payout ratio is 38.81%.

Insiders Place Their Bets

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on INTU. Mizuho raised their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. BNP Paribas downgraded Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a report on Wednesday, January 15th. Jefferies Financial Group cut their price objective on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Citigroup decreased their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Finally, Oppenheimer dropped their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Intuit currently has an average rating of "Moderate Buy" and an average target price of $713.56.

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.