Intuit Inc. (NASDAQ:INTU) Stake Cut by First Trust Advisors LP

First Trust Advisors LP cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 348,300 shares of the software maker's stock after selling 474 shares during the period. First Trust Advisors LP owned approximately 0.12% of Intuit worth $218,907,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. R Squared Ltd acquired a new stake in Intuit in the fourth quarter valued at $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in shares of Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit in the 4th quarter valued at approximately $28,000. Finally, Summit Securities Group LLC acquired a new stake in Intuit during the 4th quarter valued at $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.

Intuit Stock Performance

Shares of INTU stock traded up $12.49 during trading hours on Wednesday, reaching $596.05. The stock had a trading volume of 1,744,704 shares, compared to its average volume of 1,577,397. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a 50-day simple moving average of $591.87 and a 200-day simple moving average of $616.12. The firm has a market capitalization of $166.63 billion, a PE ratio of 57.87, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. Intuit Inc. has a twelve month low of $532.65 and a twelve month high of $714.78.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.70%. Intuit's dividend payout ratio (DPR) is presently 38.81%.

Insider Transactions at Intuit

In other news, Director Eve B. Burton sold 1,702 shares of the firm's stock in a transaction dated 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 approximately $4,800. This trade represents a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the sale, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock valued at $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotiabank raised shares of Intuit from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $600.00 to $700.00 in a research note on Thursday, April 17th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating for the company. Mizuho increased their target price on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. BMO Capital Markets lowered their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, BNP Paribas lowered shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Intuit has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

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.