TD Asset Management Inc. Trims Stock Position in Intuit Inc. (NASDAQ:INTU)

TD Asset Management Inc. decreased its position in shares of Intuit Inc. (NASDAQ:INTU) by 53.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 149,863 shares of the software maker’s stock after selling 173,877 shares during the quarter. TD Asset Management Inc. owned approximately 0.05% of Intuit worth $94,189,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTU. Eagle Asset Management Inc. lifted its stake in Intuit by 20.8% in the third quarter. Eagle Asset Management Inc. now owns 4,649 shares of the software maker’s stock valued at $3,181,000 after buying an additional 799 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Intuit by 28.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 1,576 shares of the software maker’s stock valued at $978,000 after acquiring an additional 353 shares during the period. Penserra Capital Management LLC raised its position in Intuit by 1.2% in the 3rd quarter. Penserra Capital Management LLC now owns 2,890 shares of the software maker’s stock valued at $1,793,000 after purchasing an additional 34 shares during the last quarter. Larson Financial Group LLC boosted its stake in Intuit by 38.2% during the 3rd quarter. Larson Financial Group LLC now owns 300 shares of the software maker’s stock worth $186,000 after purchasing an additional 83 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Intuit during the 3rd quarter worth $1,291,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INTU shares. BNP Paribas cut shares of 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. 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. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday, March 3rd. Citigroup cut their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Redburn Atlantic assumed coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Intuit currently has an average rating of “Moderate Buy” and an average target price of $721.61.

Intuit Stock Up 0.9 %

INTU stock opened at $618.72 on Wednesday. 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. The company has a market cap of $172.97 billion, a P/E ratio of 60.07, a P/E/G ratio of 2.85 and a beta of 1.27. The company’s 50-day moving average price is $595.97 and its 200 day moving average price is $622.76.

Intuit Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Investors of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, April 10th. Intuit’s dividend payout ratio is currently 38.81%.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $619.28, for a total value of $667,583.84. Following the sale, the chief accounting officer now owns 1,864 shares of the company’s stock, valued at $1,154,337.92. This represents a 36.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $604.26, for a total transaction of $3,895,059.96. Following the transaction, the insider now directly owns 6,219,900 shares of the company’s stock, valued at approximately $3,758,436,774. This trade represents a 0.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 132,896 shares of company stock valued at $82,946,716 in the last ninety days. Corporate 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.