Intuit Inc. (NASDAQ:INTU) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC decreased its position in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,868 shares of the software maker's stock after selling 1,394 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Intuit were worth $3,688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Intuit by 83.2% in the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock valued at $371,984,000 after buying an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. acquired a new position in Intuit during the fourth quarter worth about $621,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Intuit by 2.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 171,605 shares of the software maker's stock valued at $107,854,000 after purchasing an additional 3,648 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in shares of Intuit by 3.8% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 43,313 shares of the software maker's stock valued at $27,223,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Intuit by 109.9% in the 4th quarter. Douglas Lane & Associates LLC now owns 24,666 shares of the software maker's stock valued at $15,502,000 after buying an additional 12,916 shares in the last quarter. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on INTU shares. JPMorgan Chase & Co. upgraded Intuit from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. Mizuho lifted their price target on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Piper Sandler reissued an "overweight" rating and set a $785.00 price target (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Finally, Morgan Stanley lowered their price objective on Intuit from $730.00 to $720.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $718.56.

Intuit Trading Up 2.6 %

INTU opened at $583.56 on Wednesday. The firm has a market capitalization of $163.14 billion, a P/E ratio of 56.66, a P/E/G ratio of 2.85 and a beta of 1.25. The firm's 50 day moving average is $591.87 and its 200-day moving average is $616.12. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a 52-week low of $532.65 and a 52-week high of $714.78.

Intuit Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Stockholders 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 0.71%. The ex-dividend date was Thursday, April 10th. Intuit's payout ratio is 38.81%.

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at $13,401,849.72. This trade represents a 27.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated 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 completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.