Kesler Norman & Wride LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 82.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 326 shares of the software maker's stock after selling 1,582 shares during the quarter. Kesler Norman & Wride LLC's holdings in Intuit were worth $205,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in INTU. R Squared Ltd acquired a new position in Intuit during the fourth quarter valued at approximately $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new position in Intuit during the 4th quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter valued at about $28,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Intuit in the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 83.66% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently weighed in on INTU. Piper Sandler restated an "overweight" rating and set a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Citigroup reduced their price target on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. BMO Capital Markets reduced their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Jefferies Financial Group cut their price target on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $640.00 to $660.00 in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $718.00.
Check Out Our Latest Stock Report on INTU
Insider Activity
In other news, CFO Sandeep Aujla sold 1,300 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the transaction, the chief financial officer now owns 644 shares of the company's stock, valued at approximately $403,414.48. This trade represents a 66.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was 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 trade represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,074 shares of company stock valued at $15,829,661. Company insiders own 2.68% of the company's stock.
Intuit Price Performance
Shares of INTU stock traded up $9.29 during trading hours on Tuesday, reaching $565.53. 622,397 shares of the company were exchanged, compared to its average volume of 1,544,481. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. 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 stock's fifty day moving average is $594.64 and its two-hundred day moving average is $620.01. The company has a market cap of $158.10 billion, a price-to-earnings ratio of 54.99, a P/E/G ratio of 2.85 and a beta of 1.25.
Intuit Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a yield of 0.74%. Intuit's payout ratio is 38.81%.
About Intuit
(
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.
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