Ithaka Group LLC Cuts Stake in Intuit Inc. (NASDAQ:INTU)

Ithaka Group LLC decreased its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,406 shares of the software maker's stock after selling 666 shares during the quarter. Intuit makes up 1.8% of Ithaka Group LLC's investment portfolio, making the stock its 20th biggest holding. Ithaka Group LLC's holdings in Intuit were worth $9,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in INTU. R Squared Ltd acquired a new position in shares of Intuit during the fourth quarter worth $25,000. NewSquare Capital LLC grew its holdings in shares of Intuit by 72.0% during the fourth 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. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Intuit in the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Insider Buying and Selling at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sandeep Aujla sold 109 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $628.50, for a total transaction of $68,506.50. Following the transaction, the chief financial officer now directly owns 1,944 shares of the company's stock, valued at approximately $1,221,804. This trade represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,301 shares of company stock worth $121,470,200 over the last quarter. 2.68% of the stock is owned by corporate insiders.

Intuit Trading Up 0.8 %

NASDAQ INTU opened at $591.14 on Thursday. The company's fifty day moving average price is $599.68 and its two-hundred day moving average price is $624.06. The company has a market capitalization of $165.26 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth 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 debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Intuit Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 0.70%. The ex-dividend date is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on shares of Intuit in a research note on Wednesday, February 19th. They issued a "neutral" rating on the stock. Mizuho increased their price objective on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. BMO Capital Markets cut their price target on 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 raised their price objective on shares of Intuit from $790.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Finally, Barclays cut their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating for the company in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $721.61.

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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.

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