Tredje AP fonden Sells 23,254 Shares of Intuit Inc. (NASDAQ:INTU)

Tredje AP fonden reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 32.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 47,643 shares of the software maker's stock after selling 23,254 shares during the period. Tredje AP fonden's holdings in Intuit were worth $29,944,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTU. Brown Financial Advisors grew its holdings in shares of Intuit by 0.9% during the 3rd quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock worth $1,018,000 after acquiring an additional 15 shares during the period. Truvestments Capital LLC boosted its position in shares of Intuit by 1.5% in the 3rd quarter. Truvestments Capital LLC now owns 1,078 shares of the software maker's stock worth $669,000 after purchasing an additional 16 shares in the last quarter. True North Advisors LLC boosted its position in shares of Intuit by 4.3% in the 4th 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 boosted its position in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock worth $394,000 after purchasing an additional 17 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its position in shares of Intuit by 4.8% in the 3rd quarter. Kovack Advisors Inc. now owns 393 shares of the software maker's stock worth $244,000 after purchasing an additional 18 shares in the last quarter. 83.66% of the stock is owned by institutional investors.

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Insider Transactions at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company's stock, valued at $22,542,457.60. The trade was a 67.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 189,301 shares of company stock worth $121,470,200 in the last three months. Corporate insiders own 2.68% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded down $9.82 during midday trading on Thursday, hitting $581.32. The company had a trading volume of 2,269,071 shares, compared to its average volume of 1,917,570. 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 company has a market cap of $162.51 billion, a price-to-earnings ratio of 56.44, a PEG ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The company has a fifty day moving average of $598.85 and a two-hundred day moving average of $623.76.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.72%. Intuit's dividend payout ratio (DPR) is 38.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INTU. Redburn Atlantic began coverage on Intuit in a research report on Wednesday, February 19th. They issued a "neutral" rating on the stock. Stifel Nicolaus dropped their price target on Intuit from $795.00 to $725.00 and set a "buy" rating on the stock in a research report on Friday, November 22nd. BNP Paribas cut Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective on the stock. in a research report on Wednesday, January 15th. Mizuho upped their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research report on Wednesday, February 26th. One research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $721.61.

Intuit 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.