Erste Asset Management GmbH Has $36.79 Million Holdings in Intuit Inc. (NASDAQ:INTU)

Erste Asset Management GmbH lessened its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 24.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,677 shares of the software maker's stock after selling 18,655 shares during the quarter. Erste Asset Management GmbH's holdings in Intuit were worth $36,786,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of INTU. R Squared Ltd acquired a new position in Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC increased its position in Intuit by 72.0% during 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 during the last quarter. Heck Capital Advisors LLC acquired a new position in Intuit during the fourth quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Intuit during the fourth quarter worth approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Trading Up 0.8 %

Shares of INTU stock opened at $591.14 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a market cap of $165.26 billion, a P/E ratio of 57.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The stock has a 50 day simple moving average of $599.68 and a 200 day simple moving average of $624.06. Intuit Inc. has a 1 year low of $553.24 and a 1 year high of $714.78.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

Insiders Place Their Bets

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction on Friday, January 10th. The stock was 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 $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 over the last three months. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. StockNews.com downgraded Intuit from a "buy" rating to a "hold" 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 target price on the stock. in a research report on Wednesday, January 15th. Finally, Mizuho upped their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $721.61.

Remove Ads

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.

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.