Tocqueville Asset Management L.P. Lowers Stock Position in Intuit Inc. (NASDAQ:INTU)

Tocqueville Asset Management L.P. cut its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,056 shares of the software maker’s stock after selling 299 shares during the period. Tocqueville Asset Management L.P.’s holdings in Intuit were worth $9,463,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth approximately $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after purchasing an additional 18 shares during the period. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Intuit during the fourth quarter worth $29,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Intuit Trading Up 0.6 %

Intuit stock opened at $602.11 on Tuesday. The stock has a market cap of $168.33 billion, a PE ratio of 58.46, a P/E/G ratio of 2.85 and a beta of 1.27. The stock has a 50-day moving average price of $597.76 and a 200 day moving average price of $623.51. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is presently 38.81%.

Wall Street Analysts Forecast Growth

INTU has been the subject of several recent research reports. Scotiabank decreased their price target on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a report on Thursday, February 27th. Stifel Nicolaus decreased their price target on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Redburn Atlantic initiated coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. BMO Capital Markets decreased their price target on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Barclays decreased their price target on Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. One equities 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $721.61.

Insider Buying and Selling

In other Intuit news, insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the completion of the sale, the insider now owns 6,301,286 shares in the company, valued at $4,189,977,112.84. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sasan K. Goodarzi sold 75,000 shares of Intuit stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $630.10, for a total value of $47,257,500.00. Following the completion of the sale, the chief executive officer now owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This trade represents a 67.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,301 shares of company stock worth $121,470,200. 2.68% of the stock is owned by corporate insiders.

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.