Intuit Inc. (NASDAQ:INTU) Holdings Decreased by Pitcairn Co.

Pitcairn Co. reduced its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 12.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,223 shares of the software maker's stock after selling 1,928 shares during the period. Pitcairn Co.'s holdings in Intuit were worth $8,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 worth $16,991,696,000 after acquiring an additional 353,185 shares during the last quarter. State Street Corp boosted its holdings in shares of Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker's stock worth $7,648,910,000 after purchasing an additional 221,885 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intuit by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 6,111,097 shares of the software maker's stock valued at $3,833,720,000 after purchasing an additional 132,384 shares during the period. Wellington Management Group LLP grew its position in shares of Intuit by 13.3% in 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 purchasing an additional 620,559 shares during the period. Finally, Norges Bank purchased a new position in Intuit during the fourth quarter worth about $2,290,419,000. Hedge funds and other institutional investors own 83.66% of the company's stock.

Remove Ads

Intuit Stock Down 6.2 %

Shares of NASDAQ INTU traded down $37.00 during trading on Friday, reaching $561.53. 3,334,095 shares of the stock were exchanged, compared to its average volume of 1,542,889. The company has a market capitalization of $156.98 billion, a price-to-earnings ratio of 54.52, a price-to-earnings-growth ratio of 2.85 and a beta of 1.27. The business's 50-day moving average price is $595.64 and its 200 day moving average price is $620.79. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. Intuit Inc. has a twelve month low of $553.24 and a twelve month high of $714.78.

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 issued 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 yield of 0.74%. Intuit's dividend payout ratio is currently 38.81%.

Insider Buying and Selling at Intuit

In other news, insider Scott D. Cook sold 6,446 shares of the stock in a transaction that occurred on 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 directly owns 6,219,900 shares in the company, valued at approximately $3,758,436,774. This represents a 0.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 4,788 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the sale, the executive vice president now directly owns 30,010 shares of the company's stock, valued at $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,862 shares of company stock valued at $18,767,673 in the last ninety days. Insiders own 2.68% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on INTU. StockNews.com cut Intuit from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Mizuho boosted their target price on shares of Intuit from $750.00 to $765.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. BNP Paribas cut shares of Intuit from a "neutral" rating to an "underperform" rating and set a $530.00 price objective for the company. in a research note on Wednesday, January 15th. Finally, Citigroup cut their target price on Intuit from $760.00 to $726.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $718.00.

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.