LGT Capital Partners LTD. Sells 79,450 Shares of Intuit Inc. (NASDAQ:INTU)

LGT Capital Partners LTD. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 46.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,416 shares of the software maker's stock after selling 79,450 shares during the period. Intuit accounts for approximately 2.2% of LGT Capital Partners LTD.'s holdings, making the stock its 17th largest holding. LGT Capital Partners LTD.'s holdings in Intuit were worth $57,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. R Squared Ltd bought a new stake in shares of Intuit in the fourth quarter valued at about $25,000. NewSquare Capital LLC raised its holdings in 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 acquiring an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter worth about $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Intuit during the fourth quarter worth approximately $29,000. 83.66% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intuit news, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company's stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 220,811 shares of company stock worth $142,391,012 over the last three months. Insiders own 2.68% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INTU shares. Jefferies Financial Group boosted their price target on Intuit from $790.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Mizuho boosted their price target on Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report 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 report on Wednesday, February 26th. StockNews.com downgraded Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Scotiabank lowered their price target on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Intuit has an average rating of "Moderate Buy" and an average price target of $721.61.

Intuit Price Performance

Shares of INTU stock traded down $29.83 during trading on Monday, hitting $579.78. The company had a trading volume of 2,374,273 shares, compared to its average volume of 1,910,852. The stock's 50-day moving average price is $601.27 and its 200 day moving average price is $624.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The firm has a market capitalization of $162.08 billion, a P/E ratio of 56.29, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be paid a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a yield of 0.72%. The ex-dividend date is Thursday, April 10th. Intuit's payout ratio is presently 38.81%.

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.