Blueshift Asset Management LLC Decreases Stake in Intuit Inc. (NASDAQ:INTU)

Blueshift Asset Management LLC trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 23.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,511 shares of the software maker's stock after selling 1,088 shares during the period. Intuit makes up 0.8% of Blueshift Asset Management LLC's investment portfolio, making the stock its 15th biggest holding. Blueshift Asset Management LLC's holdings in Intuit were worth $2,207,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit during the 4th quarter valued at $29,000. Institutional investors own 83.66% of the company's stock.

Insider Activity

In related news, insider Scott D. Cook sold 6,446 shares of the business's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at $3,758,436,774. The trade was a 0.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 directly owns 35,776 shares in the company, valued at approximately $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. Over the last ninety days, insiders sold 117,348 shares of company stock valued at $73,515,245. 2.68% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

INTU has been the subject of several research analyst reports. Mizuho lifted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Scotiabank reduced their price objective 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. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. StockNews.com cut shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, BMO Capital Markets dropped their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average price target of $721.61.

Intuit Trading Up 1.5 %

INTU stock traded up $9.05 during midday trading on Monday, reaching $613.09. 1,702,978 shares of the company traded hands, compared to its average volume of 1,439,823. The firm has a market capitalization of $171.40 billion, a price-to-earnings ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27. The business has a 50 day moving average of $596.08 and a 200-day moving average of $622.74. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24.

Intuit Dividend Announcement

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 paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio is currently 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.