Ostrum Asset Management Sells 6,258 Shares of Intuit Inc. (NASDAQ:INTU)

Ostrum Asset Management lowered its stake in Intuit Inc. (NASDAQ:INTU - Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,956 shares of the software maker's stock after selling 6,258 shares during the quarter. Intuit makes up approximately 2.3% of Ostrum Asset Management's investment portfolio, making the stock its 21st largest position. Ostrum Asset Management's holdings in Intuit were worth $26,998,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTU. Vanguard Group Inc. grew its holdings in shares of Intuit by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker's stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. Geode Capital Management LLC increased its position in Intuit by 2.2% in 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 acquiring an additional 132,384 shares during the period. Wellington Management Group LLP raised its stake in shares of Intuit by 13.3% during the fourth quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker's stock valued at $3,329,115,000 after acquiring an additional 620,559 shares during the last quarter. Norges Bank acquired a new position in shares of Intuit during the fourth quarter worth $2,290,419,000. Finally, Bank of New York Mellon Corp increased its holdings in Intuit by 3.9% in 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 purchasing an additional 88,487 shares during the period. 83.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on INTU shares. Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Piper Sandler reaffirmed an "overweight" rating and issued a $785.00 price objective (up from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. Jefferies Financial Group lowered their price target on shares of Intuit from $800.00 to $735.00 and set a "buy" rating for the company in a report on Monday, March 31st. StockNews.com downgraded shares of Intuit from a "buy" rating to a "hold" rating in a research report on Monday, March 3rd. Finally, Mizuho increased their price objective on shares of Intuit from $750.00 to $765.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Intuit presently has a consensus rating of "Moderate Buy" and an average target price of $717.53.

Intuit Stock Performance

Shares of NASDAQ:INTU traded up $19.30 during mid-day trading on Thursday, reaching $615.35. The company had a trading volume of 919,923 shares, compared to its average volume of 1,575,349. Intuit Inc. has a one year low of $532.65 and a one year high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company's 50-day moving average price is $592.04 and its 200-day moving average price is $615.98. The firm has a market cap of $172.03 billion, a price-to-earnings ratio of 59.71, a PEG ratio of 2.85 and a beta of 1.25.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were given a dividend of $1.04 per share. The ex-dividend date of this dividend was 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 is presently 38.81%.

Insider Transactions at Intuit

In other Intuit news, Director Eve B. Burton sold 1,702 shares of Intuit stock in a transaction dated 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 transaction, the director now owns 8 shares of the company's stock, valued at $4,800. The trade was a 99.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares of the company's stock, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by company insiders.

About Intuit

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.