Prudential Financial Inc. Sells 58,261 Shares of Intuit Inc. (NASDAQ:INTU)

Prudential Financial Inc. reduced its position in Intuit Inc. (NASDAQ:INTU) by 20.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 231,301 shares of the software maker’s stock after selling 58,261 shares during the quarter. Prudential Financial Inc.’s holdings in Intuit were worth $145,373,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Intuit during the fourth quarter worth about $25,000. NewSquare Capital LLC lifted its holdings in shares of Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after acquiring an additional 18 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in Intuit in the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Intuit during the fourth quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Intuit in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Intuit Stock Up 0.6 %

Shares of NASDAQ:INTU opened at $604.04 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $596.08 and a two-hundred day simple moving average of $622.80. Intuit Inc. has a 12-month low of $553.24 and a 12-month high of $714.78. The stock has a market capitalization of $168.87 billion, a price-to-earnings ratio of 58.64, a PEG ratio of 2.85 and a beta of 1.27.

Intuit Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be paid a $1.04 dividend. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.69%. Intuit’s dividend payout ratio (DPR) is currently 38.81%.

Insider Activity at Intuit

In other news, EVP Mark P. Notarainni sold 363 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $628.50, for a total value of $228,145.50. Following the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at $11,941.50. This trade represents a 95.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sasan K. Goodarzi sold 75,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $630.10, for a total transaction of $47,257,500.00. Following the completion of the sale, the chief executive officer now directly owns 35,776 shares of the company’s stock, valued at $22,542,457.60. This represents a 67.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,348 shares of company stock worth $73,515,245. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTU. Scotiabank cut their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Morgan Stanley upgraded shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price target for the company in a research report on Wednesday, February 26th. Citigroup decreased their price objective on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Redburn Atlantic began coverage on Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Mizuho lifted their price target on Intuit from $750.00 to $765.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuit presently has an average rating of “Moderate Buy” and a consensus price target of $721.61.

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.