Martingale Asset Management L P Decreases Stock Position in Intuit Inc. (NASDAQ:INTU)

Martingale Asset Management L P trimmed its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 54,510 shares of the software maker's stock after selling 735 shares during the quarter. Intuit comprises approximately 0.8% of Martingale Asset Management L P's portfolio, making the stock its 23rd biggest position. Martingale Asset Management L P's holdings in Intuit were worth $34,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock valued at $16,991,696,000 after purchasing an additional 353,185 shares during the period. Geode Capital Management LLC raised its stake in Intuit by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after buying an additional 132,384 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after buying an additional 620,559 shares during the period. Norges Bank purchased a new position in shares of Intuit in the 4th quarter worth $2,290,419,000. Finally, Bank of New York Mellon Corp increased its position in Intuit by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 2,386,228 shares of the software maker's stock valued at $1,499,744,000 after acquiring an additional 88,487 shares during the last quarter. Institutional investors own 83.66% of the company's stock.

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Analyst Ratings Changes

A number of analysts have commented on INTU shares. Oppenheimer reduced their target price on shares of Intuit from $722.00 to $642.00 and set an "outperform" rating for the company in a report on Friday. Morgan Stanley raised Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price target for the company in a report on Wednesday, February 26th. BMO Capital Markets decreased their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Scotiabank lowered their price objective 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. Finally, BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 target price on the stock. in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $713.56.

Intuit Price Performance

Shares of NASDAQ INTU traded up $2.63 during mid-day trading on Monday, hitting $589.67. 279,765 shares of the company's stock traded hands, compared to its average volume of 1,563,307. Intuit Inc. has a 1 year low of $532.65 and a 1 year 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. The company's 50-day moving average is $591.70 and its two-hundred day moving average is $617.42. The company has a market capitalization of $164.85 billion, a P/E ratio of 57.25, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The company also recently announced 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. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit's dividend payout ratio is currently 38.81%.

Insiders Place Their Bets

In other news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares in the company, valued at approximately $4,800. This trade represents a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. The trade was a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last 90 days. Insiders own 2.68% of the company's stock.

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.