Intuit Inc. (NASDAQ:INTU) Shares Sold by KP Management LLC

KP Management LLC lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 26.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,500 shares of the software maker's stock after selling 1,250 shares during the quarter. KP Management LLC's holdings in Intuit were worth $2,200,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTU. True North Advisors LLC lifted its position in shares of Intuit by 4.3% in the fourth quarter. True North Advisors LLC now owns 409 shares of the software maker's stock worth $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC grew its holdings in shares of Intuit by 2.8% during the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after acquiring an additional 17 shares in the last quarter. Pacifica Partners Inc. increased its stake in shares of Intuit by 27.7% in the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after acquiring an additional 18 shares during the last quarter. Drive Wealth Management LLC raised its stake in shares of Intuit by 2.4% during the 4th quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock worth $478,000 after purchasing an additional 18 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock worth $27,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Intuit Stock Up 1.5 %

NASDAQ INTU opened at $624.12 on Friday. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The firm has a market cap of $174.48 billion, a PE ratio of 60.59, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. 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 50 day simple moving average is $593.48 and its 200 day simple moving average is $616.11.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Thursday, April 10th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.67%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

Insiders Place Their Bets

In other news, EVP Laura A. Fennell sold 8,163 shares of the company's stock in a transaction 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 transaction, the executive vice president now owns 21,882 shares of the company's stock, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now owns 8 shares of the company's stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,696 shares of company stock valued at $14,347,731. Insiders own 2.68% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on INTU shares. Scotiabank upgraded Intuit from a "sector perform" rating to a "sector outperform" rating and increased their price target for the company from $600.00 to $700.00 in a report on Thursday, April 17th. 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. Citigroup lowered their price objective on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer cut their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Finally, Piper Sandler restated an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Intuit presently has an average rating of "Moderate Buy" and a consensus target price of $717.53.

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.

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