Federated Hermes Inc. cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 49.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,340 shares of the software maker's stock after selling 42,516 shares during the period. Federated Hermes Inc.'s holdings in Intuit were worth $27,239,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC grew its position in 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 during the last quarter. Heck Capital Advisors LLC bought a new position in shares of Intuit in the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the 4th quarter worth $28,000. Institutional investors own 83.66% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on the company. BMO Capital Markets reduced their target price on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Oppenheimer reduced their price objective on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday. Jefferies Financial Group dropped their target price on shares of Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. StockNews.com lowered shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, Scotiabank cut their target price on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. 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. According to MarketBeat.com, Intuit has an average rating of "Moderate Buy" and a consensus price target of $713.56.
Check Out Our Latest Stock Report on Intuit
Intuit Stock Up 1.3 %
NASDAQ INTU traded up $7.53 during trading on Monday, hitting $594.57. 212,954 shares of the company traded hands, compared to its average volume of 1,563,032. Intuit Inc. has a 12 month low of $532.65 and a 12 month high of $714.78. The business has a fifty day simple moving average of $591.70 and a 200 day simple moving average of $617.42. The company has a market capitalization of $166.22 billion, a P/E ratio of 57.73, a PEG 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 Dividend Announcement
The business also recently disclosed 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 dividend yield of 0.70%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's payout ratio is 38.81%.
Insider Buying and Selling
In other news, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares in the company, valued at approximately $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares in the company, valued at $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by insiders.
About Intuit
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Free Report)
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.
Further Reading
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