F M Investments LLC Sells 8,951 Shares of Intuit Inc. (NASDAQ:INTU)

F M Investments LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 26.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,444 shares of the software maker's stock after selling 8,951 shares during the quarter. Intuit makes up 0.6% of F M Investments LLC's holdings, making the stock its 28th biggest holding. F M Investments LLC's holdings in Intuit were worth $15,992,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Brown Financial Advisors raised its stake in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock valued at $1,018,000 after acquiring an additional 15 shares during the last quarter. True North Advisors LLC raised its position in Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock worth $257,000 after purchasing an additional 17 shares during the last quarter. Great Diamond Partners LLC lifted its holdings in Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after buying an additional 17 shares during the period. Pacifica Partners Inc. raised its holdings in 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 purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its position in Intuit by 2.4% during the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock valued at $478,000 after acquiring an additional 18 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of Intuit stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $600.13, for a total value of $4,431,960.05. Following the completion of the transaction, the executive vice president now directly owns 40,190 shares of the company's stock, valued at approximately $24,119,224.70. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now directly owns 8 shares in the company, valued at $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,696 shares of company stock worth $14,347,731 over the last three months. Company insiders own 2.68% of the company's stock.

Intuit Trading Up 0.1 %

INTU stock traded up $0.30 on Tuesday, reaching $593.85. The company's stock had a trading volume of 419,710 shares, compared to its average volume of 1,562,556. The business has a fifty day simple moving average of $591.81 and a two-hundred day simple moving average of $617.24. Intuit Inc. has a 12-month low of $532.65 and a 12-month 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. The firm has a market cap of $166.02 billion, a PE ratio of 57.66, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The business 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 $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Scotiabank reduced their price objective on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Citigroup dropped their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $713.56.

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.