Intuit Inc. (NASDAQ:INTU) Holdings Trimmed by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,593 shares of the software maker’s stock after selling 1,441 shares during the quarter. Advisors Asset Management Inc.’s holdings in Intuit were worth $11,686,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of INTU. Atlanta Consulting Group Advisors LLC bought a new position in Intuit during the third quarter valued at about $396,000. Thrivent Financial for Lutherans lifted its holdings in shares of Intuit by 2.7% during the third quarter. Thrivent Financial for Lutherans now owns 14,733 shares of the software maker’s stock valued at $9,149,000 after purchasing an additional 388 shares during the last quarter. Aljian Capital Management LLC lifted its holdings in shares of Intuit by 1.3% during the third quarter. Aljian Capital Management LLC now owns 6,048 shares of the software maker’s stock valued at $3,756,000 after purchasing an additional 75 shares during the last quarter. Quest Partners LLC lifted its holdings in shares of Intuit by 203.7% during the third quarter. Quest Partners LLC now owns 1,652 shares of the software maker’s stock valued at $1,026,000 after purchasing an additional 1,108 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in shares of Intuit during the third quarter valued at $8,317,000. Institutional investors own 83.66% of the company’s stock.

Intuit Stock Performance

Shares of NASDAQ INTU opened at $602.11 on Tuesday. 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 market cap of $168.33 billion, a price-to-earnings ratio of 58.46, a P/E/G ratio of 2.85 and a beta of 1.27. The business’s 50-day simple moving average is $597.76 and its 200-day simple moving average is $623.51. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued 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 is Thursday, April 10th. Intuit’s dividend payout ratio is 38.81%.

Wall Street Analyst Weigh In

INTU has been the subject of several analyst reports. Oppenheimer upped their target price on Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. BNP Paribas downgraded Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a report on Wednesday, January 15th. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. BMO Capital Markets reduced their price objective on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Finally, Jefferies Financial Group increased their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuit currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Activity

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of Intuit stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the transaction, the chief accounting officer now directly owns 1,864 shares of the company’s stock, valued at $1,154,337.92. The trade was a 36.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of Intuit stock in a transaction that occurred on 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 represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,301 shares of company stock valued at $121,470,200. Insiders own 2.68% of the company’s stock.

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.