Neuberger Berman Group LLC Sells 44,427 Shares of Intuit Inc. (NASDAQ:INTU)

Neuberger Berman Group LLC reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 4.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 899,126 shares of the software maker's stock after selling 44,427 shares during the quarter. Neuberger Berman Group LLC owned about 0.32% of Intuit worth $565,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Financial Advisors grew its stake in shares of Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker's stock worth $1,018,000 after purchasing an additional 15 shares during the period. True North Advisors LLC increased its stake in shares of Intuit by 4.3% in the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker's stock valued at $257,000 after acquiring an additional 17 shares during the last quarter. Great Diamond Partners LLC raised its position in shares of Intuit by 2.8% in the 4th quarter. Great Diamond Partners LLC now owns 627 shares of the software maker's stock valued at $394,000 after acquiring an additional 17 shares during the period. Pacifica Partners Inc. boosted its stake in Intuit by 27.7% during the 4th quarter. Pacifica Partners Inc. now owns 83 shares of the software maker's stock worth $52,000 after acquiring an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC grew its holdings in Intuit by 2.4% during the fourth quarter. Drive Wealth Management LLC now owns 760 shares of the software maker's stock valued at $478,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

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Wall Street Analysts Forecast Growth

INTU has been the topic of a number of recent analyst reports. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price target on the stock. in a research report on Wednesday, January 15th. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Citigroup lowered their price target on Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Morgan Stanley upgraded Intuit from an "equal weight" rating to an "overweight" rating and set a $730.00 price objective on the stock in a report on Wednesday, February 26th. Finally, Jefferies Financial Group lowered their target price on Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $713.56.

Intuit Stock Performance

INTU stock traded down $1.51 during trading hours on Tuesday, reaching $592.04. The stock had a trading volume of 467,153 shares, compared to its average volume of 1,562,707. The stock has a 50-day simple moving average of $591.81 and a 200 day simple moving average of $617.24. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The stock has a market capitalization of $165.51 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.70%. Intuit's dividend payout ratio (DPR) is currently 38.81%.

Insider Buying and Selling

In related 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 value of $4,999,510.98. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the company's stock in a transaction on Friday, February 28th. The shares were 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. This represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. Company insiders own 2.68% of the company's stock.

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.