Massachusetts Financial Services Co. MA decreased its holdings in Intuit Inc. (NASDAQ:INTU - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 949,876 shares of the software maker's stock after selling 65,096 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.34% of Intuit worth $596,997,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter worth $25,000. NewSquare Capital LLC lifted its stake in Intuit by 72.0% in the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker's stock valued at $27,000 after purchasing an additional 18 shares during the last quarter. Heck Capital Advisors LLC bought a new position in Intuit in the 4th quarter valued at approximately $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Intuit in the fourth quarter valued at approximately $28,000. Finally, Summit Securities Group LLC bought a new stake in shares of Intuit during the fourth quarter worth $28,000. 83.66% of the stock is currently owned by institutional investors and hedge funds.
Intuit Trading Down 6.2 %
Shares of NASDAQ:INTU traded down $37.00 during mid-day trading on Friday, hitting $561.53. The company had a trading volume of 3,334,095 shares, compared to its average volume of 1,543,195. The company has a market capitalization of $156.98 billion, a PE ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. Intuit Inc. has a one year low of $553.24 and a one year high of $714.78. The firm has a fifty day moving average price of $595.64 and a 200 day moving average price of $620.96. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.74%. Intuit's dividend payout ratio is currently 38.81%.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on INTU. Piper Sandler reissued an "overweight" rating and set a $785.00 price objective (up previously from $765.00) on shares of Intuit in a report on Wednesday, February 26th. Scotiabank cut their price target on Intuit from $700.00 to $600.00 and set a "sector perform" rating on the stock in a research note on Thursday, February 27th. Citigroup lowered their price objective on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. BMO Capital Markets cut their target price on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. upgraded shares of Intuit from a "neutral" rating to an "overweight" rating and upped their price target for the company from $640.00 to $660.00 in a research report on Wednesday, March 5th. One 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. Based on data from MarketBeat, Intuit has a consensus rating of "Moderate Buy" and a consensus price target of $718.00.
Read Our Latest Stock Analysis on INTU
Insider Transactions at Intuit
In other news, CFO Sandeep Aujla sold 1,300 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $626.42, for a total value of $814,346.00. Following the completion of the sale, the chief financial officer now owns 644 shares in the company, valued at $403,414.48. This represents a 66.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 sale, the insider now directly owns 6,219,900 shares of the company's stock, valued at $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 have sold 30,862 shares of company stock valued at $18,767,673 in the last 90 days. 2.68% of the stock is currently owned by corporate insiders.
Intuit Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Intuit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intuit wasn't on the list.
While Intuit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
