Fisher Asset Management LLC Decreases Stock Holdings in Intuit Inc. (NASDAQ:INTU)

Fisher Asset Management LLC trimmed its stake in shares of Intuit Inc. (NASDAQ:INTU) by 4.8% in the 4th quarter, Holdings Channel reports. The firm owned 3,642,780 shares of the software maker’s stock after selling 184,891 shares during the period. Intuit accounts for approximately 0.9% of Fisher Asset Management LLC’s holdings, making the stock its 29th biggest position. Fisher Asset Management LLC’s holdings in Intuit were worth $2,289,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Proficio Capital Partners LLC increased its holdings in Intuit by 112,233.1% during the fourth quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after buying an additional 1,062,847 shares during the last quarter. Holocene Advisors LP increased its holdings in Intuit by 99.6% during the third quarter. Holocene Advisors LP now owns 625,583 shares of the software maker’s stock valued at $388,487,000 after buying an additional 312,212 shares during the last quarter. Nordea Investment Management AB increased its holdings in Intuit by 83.2% during the fourth quarter. Nordea Investment Management AB now owns 590,085 shares of the software maker’s stock valued at $371,984,000 after buying an additional 268,060 shares during the last quarter. State Street Corp increased its holdings in Intuit by 1.8% during the third quarter. State Street Corp now owns 12,317,086 shares of the software maker’s stock valued at $7,648,910,000 after buying an additional 221,885 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in Intuit during the fourth quarter valued at approximately $104,278,000. 83.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intuit

In other Intuit news, insider Scott D. Cook sold 73,655 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the completion of the transaction, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total transaction of $2,938,012.56. Following the transaction, the executive vice president now owns 30,010 shares of the company’s stock, valued at $18,414,736.20. This trade represents a 13.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 218,014 shares of company stock worth $140,855,687 over the last 90 days. 2.68% of the stock is owned by insiders.

Intuit Price Performance

Shares of NASDAQ:INTU opened at $613.84 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a fifty day moving average price of $605.90 and a 200 day moving average price of $627.25. Intuit Inc. has a fifty-two week low of $553.24 and a fifty-two week high of $714.78. The firm has a market cap of $171.82 billion, a price-to-earnings ratio of 59.60, a P/E/G ratio of 2.85 and a beta of 1.24.

Intuit Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Thursday, April 10th will be given a dividend of $1.04 per share. The ex-dividend date is Thursday, April 10th. This represents a $4.16 annualized dividend and a yield of 0.68%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $785.00 target price (up from $765.00) on shares of Intuit in a report on Wednesday. BMO Capital Markets reduced their target price on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday. Citigroup reduced their price objective on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $760.00 price objective on shares of Intuit in a research note on Friday, November 22nd. Finally, Barclays reduced their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $717.88.

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.