Cerity Partners LLC Sells 13,114 Shares of Intuit Inc. (NASDAQ:INTU)

Cerity Partners LLC cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 8.5% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 140,891 shares of the software maker's stock after selling 13,114 shares during the period. Cerity Partners LLC owned approximately 0.05% of Intuit worth $88,356,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brown Financial Advisors increased its position in shares of Intuit by 0.9% in the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock worth $1,018,000 after purchasing an additional 15 shares during the period. True North Advisors LLC increased its holdings in Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after buying an additional 17 shares during the period. Great Diamond Partners LLC raised its position in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after buying an additional 17 shares in the last quarter. RB Capital Management LLC lifted its holdings in shares of Intuit by 0.6% during the 3rd quarter. RB Capital Management LLC now owns 3,169 shares of the software maker's stock worth $1,968,000 after acquiring an additional 18 shares during the period. Finally, Pacifica Partners Inc. boosted its position in shares of Intuit by 27.7% during the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after acquiring an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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Insider Activity at Intuit

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of Intuit stock in a transaction dated 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 transaction, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now owns 6,219,900 shares of the company's stock, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock valued at $14,347,731 in the last three months. Corporate insiders own 2.68% of the company's stock.

Analyst Ratings Changes

INTU has been the subject of several recent analyst reports. Morgan Stanley upgraded 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. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and raised their target price for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. BMO Capital Markets cut their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup lowered their target price on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. One 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 has an average rating of "Moderate Buy" and a consensus target price of $713.56.

Intuit Trading Up 1.7 %

INTU stock traded up $9.57 during mid-day trading on Friday, reaching $587.04. The company's stock had a trading volume of 1,479,882 shares, compared to its average volume of 1,567,880. The business's 50 day moving average price is $591.70 and its 200 day moving average price is $617.55. The company has a market cap of $164.11 billion, a price-to-earnings ratio of 56.99, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78.

Intuit Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio (DPR) is currently 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.