Magnetar Financial LLC Decreases Position in Intuit Inc. (NASDAQ:INTU)

Magnetar Financial LLC lowered its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 23.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,350 shares of the software maker's stock after selling 2,290 shares during the quarter. Magnetar Financial LLC's holdings in Intuit were worth $4,619,000 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. Nordea Investment Management AB increased its position in shares of Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker's stock worth $371,984,000 after purchasing an additional 268,060 shares in the last quarter. Whalen Wealth Management Inc. purchased a new position in Intuit during the 4th quarter worth $621,000. Retireful LLC purchased a new position in Intuit during the 3rd quarter worth $740,000. Howe & Rusling Inc. increased its position in Intuit by 8.0% during the 3rd quarter. Howe & Rusling Inc. now owns 10,857 shares of the software maker's stock valued at $6,742,000 after buying an additional 808 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its stake in 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 buying an additional 1,602 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $9.05 during trading on Monday, hitting $613.09. 1,702,978 shares of the stock traded hands, compared to its average volume of 1,439,823. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $596.08 and a two-hundred day moving average price of $622.74. Intuit Inc. has a 52-week low of $553.24 and a 52-week high of $714.78. The company has a market cap of $171.40 billion, a price-to-earnings ratio of 59.52, a P/E/G ratio of 2.85 and a beta of 1.27.

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Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a $1.04 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit's dividend payout ratio (DPR) is currently 38.81%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on INTU. BMO Capital Markets dropped their price target on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a "sector perform" rating for the company in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Finally, StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $721.61.

Insider Transactions at Intuit

In related news, Director Eve B. Burton sold 1,702 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the transaction, the director now owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total value of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares in the company, valued at $18,414,736.20. This represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 117,348 shares of company stock valued at $73,515,245 in the last ninety days. 2.68% of the stock is currently owned by corporate insiders.

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.