Fmr LLC Lowers Stock Holdings in Intuit Inc. (NASDAQ:INTU)

FMR LLC cut its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,053,936 shares of the software maker's stock after selling 817,155 shares during the period. FMR LLC owned about 1.45% of Intuit worth $2,547,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. R Squared Ltd acquired a new position in Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC grew its position in shares of Intuit by 72.0% in the 4th 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 period. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter worth approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit during the 4th quarter worth approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the fourth quarter worth $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Price Performance

Shares of INTU stock traded up $6.89 on Friday, reaching $584.36. The company's stock had a trading volume of 619,117 shares, compared to its average volume of 1,564,738. The company has a market capitalization of $163.36 billion, a P/E ratio of 56.43, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78. The stock's 50 day simple moving average is $591.80 and its 200-day simple moving average is $617.88. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31.

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Intuit Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. Intuit's dividend payout ratio is presently 38.81%.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marianna Tessel sold 7,385 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the transaction, the executive vice president now directly owns 40,190 shares in the company, valued at approximately $24,119,224.70. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last 90 days. Corporate insiders own 2.68% of the company's stock.

Analyst Upgrades and Downgrades

INTU has been the topic of several research reports. Mizuho boosted their target price on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Morgan Stanley raised shares of Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective on the stock in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on shares of Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating on the stock. 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, BMO Capital Markets reduced their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $713.56.

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.