Legal & General Group Plc Trims Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Legal & General Group Plc cut its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 25.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,871,684 shares of the software maker's stock after selling 641,159 shares during the quarter. Legal & General Group Plc owned 0.67% of Intuit worth $1,176,353,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Sumitomo Mitsui Financial Group Inc. raised its position in Intuit by 7.2% during the fourth quarter. Sumitomo Mitsui Financial Group Inc. now owns 34,050 shares of the software maker's stock valued at $21,400,000 after purchasing an additional 2,283 shares during the period. Trek Financial LLC lifted its position in Intuit by 64.7% in the fourth quarter. Trek Financial LLC now owns 1,342 shares of the software maker's stock worth $843,000 after buying an additional 527 shares during the last quarter. Polymer Capital Management HK LTD boosted its stake in Intuit by 10.0% during the fourth quarter. Polymer Capital Management HK LTD now owns 550 shares of the software maker's stock worth $346,000 after buying an additional 50 shares during the period. 2Xideas AG increased its position in Intuit by 1.9% during the fourth quarter. 2Xideas AG now owns 11,910 shares of the software maker's stock valued at $7,485,000 after acquiring an additional 222 shares during the last quarter. Finally, Unigestion Holding SA raised its stake in shares of Intuit by 32.8% in the fourth quarter. Unigestion Holding SA now owns 2,431 shares of the software maker's stock valued at $1,528,000 after acquiring an additional 601 shares during the period. Institutional investors own 83.66% of the company's stock.

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Intuit Stock Up 1.7 %

Intuit stock traded up $9.57 during mid-day trading on Friday, reaching $587.04. 1,479,882 shares of the company were exchanged, compared to its average volume of 1,567,880. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market cap of $164.11 billion, a P/E ratio of 56.99, a PEG ratio of 2.85 and a beta of 1.25. The business has a fifty day moving average of $591.70 and a 200 day moving average of $617.55. Intuit Inc. has a 12-month low of $532.65 and a 12-month high of $714.78.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In other news, EVP Laura A. Fennell sold 8,163 shares of the 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 completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 value of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,696 shares of company stock worth $14,347,731 over the last quarter. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INTU. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target for the company. in a research note on Wednesday, January 15th. JPMorgan Chase & Co. raised Intuit from a "neutral" rating to an "overweight" rating and upped their target price for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. Citigroup decreased their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Mizuho boosted their price objective on Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Finally, Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 target price on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Intuit currently has a consensus rating of "Moderate Buy" and a consensus target price of $713.56.

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.