Intuit Inc. (NASDAQ:INTU) Position Trimmed by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in shares of Intuit Inc. (NASDAQ:INTU - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 95,449 shares of the software maker's stock after selling 6,284 shares during the quarter. Voya Investment Management LLC's holdings in Intuit were worth $59,989,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in INTU. Integrated Wealth Concepts LLC lifted its stake in shares of Intuit by 60.1% during the 4th quarter. Integrated Wealth Concepts LLC now owns 2,964 shares of the software maker's stock worth $1,863,000 after purchasing an additional 1,113 shares during the period. Burling Wealth Partners LLC acquired a new stake in Intuit in the 4th quarter worth about $2,943,000. Sompo Asset Management Co. Ltd. grew its holdings in Intuit by 44.1% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 4,180 shares of the software maker's stock valued at $2,627,000 after buying an additional 1,280 shares during the period. Mar Vista Investment Partners LLC grew its holdings in Intuit by 30.9% in the 4th quarter. Mar Vista Investment Partners LLC now owns 78,712 shares of the software maker's stock valued at $49,470,000 after buying an additional 18,567 shares during the period. Finally, Brasada Capital Management LP lifted its holdings in shares of Intuit by 5.0% during the 4th quarter. Brasada Capital Management LP now owns 5,511 shares of the software maker's stock worth $3,379,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 83.66% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on INTU shares. Citigroup dropped their price target on shares of Intuit from $760.00 to $726.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on Intuit in a report on Wednesday, February 19th. They set a "neutral" rating for the company. Jefferies Financial Group reduced their target price on Intuit from $800.00 to $735.00 and set a "buy" rating on the stock in a report on Monday, March 31st. StockNews.com lowered Intuit from a "buy" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets cut their price objective on Intuit from $760.00 to $714.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $717.53.

Intuit Stock Down 0.9 %

INTU traded down $5.89 on Monday, reaching $618.23. The company's stock had a trading volume of 1,355,770 shares, compared to its average volume of 1,580,601. Intuit Inc. has a 1 year low of $532.65 and a 1 year high of $714.78. The business's 50 day moving average is $594.20 and its 200 day moving average is $616.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $172.83 billion, a price-to-earnings ratio of 60.02, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25.

Intuit Dividend Announcement

The business 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. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, April 10th. Intuit's payout ratio is currently 38.81%.

Insider Buying and Selling

In related news, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $604.26, for a total value 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 trade represents a 0.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eve B. Burton sold 1,702 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the completion of the sale, the director now directly owns 8 shares of the company's stock, valued at approximately $4,800. This represents a 99.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,696 shares of company stock worth $14,347,731. Insiders own 2.68% of the company's stock.

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.