Robeco Institutional Asset Management B.V. Sells 68,714 Shares of Intuit Inc. (NASDAQ:INTU)

Robeco Institutional Asset Management B.V. reduced its position in Intuit Inc. (NASDAQ:INTU - Free Report) by 16.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,723 shares of the software maker's stock after selling 68,714 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.12% of Intuit worth $212,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Intuit by 7.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 17,343 shares of the software maker's stock valued at $11,396,000 after acquiring an additional 1,230 shares during the period. Kimelman & Baird LLC bought a new stake in Intuit during the 2nd quarter valued at approximately $49,000. Ted Buchan & Co purchased a new position in Intuit in the 2nd quarter worth approximately $6,981,000. 3Chopt Investment Partners LLC bought a new position in Intuit in the 2nd quarter worth approximately $348,000. Finally, Cetera Investment Advisers grew its holdings in Intuit by 0.9% during the 2nd quarter. Cetera Investment Advisers now owns 47,187 shares of the software maker's stock valued at $31,012,000 after buying an additional 431 shares in the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Intuit Trading Down 0.5 %

Shares of INTU traded down $3.09 during midday trading on Friday, hitting $601.51. The stock had a trading volume of 1,640,029 shares, compared to its average volume of 1,560,666. The stock's 50 day moving average is $630.95 and its 200 day moving average is $633.66. The firm has a market cap of $168.37 billion, a PE ratio of 58.40, a price-to-earnings-growth ratio of 2.92 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 Inc. has a 1 year low of $557.29 and a 1 year high of $714.78.

Intuit (NASDAQ:INTU - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The software maker reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The firm's revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. As a group, analysts forecast that Intuit Inc. will post 14.09 EPS for the current fiscal year.

Intuit Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 9th were paid a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Friday, January 10th. Intuit's dividend payout ratio is currently 40.39%.

Analysts Set New Price Targets

INTU has been the topic of several research analyst reports. Oppenheimer boosted their target price on shares of Intuit from $712.00 to $722.00 and gave the stock an "outperform" rating in a report on Friday, November 22nd. Royal Bank of Canada reiterated an "outperform" rating and issued a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Piper Sandler reissued an "overweight" rating and set a $765.00 price objective on shares of Intuit in a report on Friday, January 10th. Barclays reduced their target price on Intuit from $800.00 to $775.00 and set an "overweight" rating on the stock in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. increased their price target on Intuit from $600.00 to $640.00 and gave the company a "neutral" rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Intuit currently has an average rating of "Moderate Buy" and an average target price of $726.53.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 75,000 shares of Intuit stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $641.82, for a total transaction of $48,136,500.00. Following the completion of the sale, the insider now owns 6,378,105 shares in the company, valued at $4,093,595,351.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Lauren D. Hotz sold 1,078 shares of the company's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $619.28, for a total transaction of $667,583.84. Following the completion of the transaction, the chief accounting officer now owns 1,864 shares in the company, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,014 shares of company stock worth $188,992,187 in the last quarter. 2.68% of the stock is owned by company insiders.

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.