J. Safra Sarasin Holding AG Reduces Stake in Intuit Inc. (NASDAQ:INTU)

J. Safra Sarasin Holding AG lessened its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 73.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,598 shares of the software maker's stock after selling 7,149 shares during the period. J. Safra Sarasin Holding AG's holdings in Intuit were worth $1,633,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in INTU. Invst LLC purchased a new stake in shares of Intuit during the 3rd quarter valued at $203,000. Virtu Financial LLC acquired a new position in Intuit during the 3rd quarter valued at about $7,506,000. Anchor Investment Management LLC raised its stake in Intuit by 6.6% in the third quarter. Anchor Investment Management LLC now owns 2,415 shares of the software maker's stock valued at $1,500,000 after buying an additional 150 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Intuit in the third quarter worth about $201,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of Intuit by 7.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 25,869 shares of the software maker's stock worth $16,065,000 after acquiring an additional 1,721 shares during the last quarter. 83.66% of the stock is owned by institutional investors.

Insider Transactions at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated 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 completion of the transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the sale, 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 three months, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on INTU shares. Piper Sandler reiterated an "overweight" rating and issued a $785.00 target price (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Oppenheimer cut their target price on Intuit from $722.00 to $642.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Redburn Atlantic assumed coverage on Intuit in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. HSBC raised Intuit from a "hold" rating to a "buy" rating and set a $699.00 price objective on the stock in a report on Wednesday. Finally, Morgan Stanley cut their price target on shares of Intuit from $730.00 to $720.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intuit has a consensus rating of "Moderate Buy" and a consensus target price of $717.53.

Intuit Price Performance

INTU stock traded up $9.29 during mid-day trading on Friday, reaching $624.12. The company's stock had a trading volume of 1,540,630 shares, compared to its average volume of 1,579,940. The stock has a market cap of $174.48 billion, a PE ratio of 60.59, a P/E/G ratio of 2.85 and a beta of 1.25. The company's 50 day moving average is $593.48 and its two-hundred day moving average is $616.14. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. 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 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's dividend payout ratio is presently 38.81%.

Intuit Company 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.