Elo Mutual Pension Insurance Co Sells 978 Shares of Intuit Inc. (NASDAQ:INTU)

Elo Mutual Pension Insurance Co lowered its stake in Intuit Inc. (NASDAQ:INTU) by 3.7% in the 4th quarter, Holdings Channel reports. The firm owned 25,579 shares of the software maker’s stock after selling 978 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Intuit were worth $16,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in INTU. Brown Financial Advisors grew its stake in Intuit by 0.9% during the third quarter. Brown Financial Advisors now owns 1,639 shares of the software maker’s stock valued at $1,018,000 after acquiring an additional 15 shares in the last quarter. True North Advisors LLC grew its position in shares of Intuit by 4.3% during the 4th quarter. True North Advisors LLC now owns 409 shares of the software maker’s stock valued at $257,000 after purchasing an additional 17 shares in the last quarter. Great Diamond Partners LLC increased its holdings in shares of Intuit by 2.8% in the fourth quarter. Great Diamond Partners LLC now owns 627 shares of the software maker’s stock worth $394,000 after purchasing an additional 17 shares during the period. RB Capital Management LLC raised its position in shares of Intuit by 0.6% in the third quarter. RB Capital Management LLC now owns 3,169 shares of the software maker’s stock worth $1,968,000 after buying an additional 18 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its stake in Intuit by 27.7% during the fourth quarter. Pacifica Partners Inc. now owns 83 shares of the software maker’s stock valued at $52,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 83.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on INTU shares. Mizuho raised their price target on Intuit from $750.00 to $765.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Citigroup dropped their target price on shares of Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Scotiabank decreased their price target on shares of Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. Redburn Atlantic began coverage on shares of Intuit in a report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $785.00 target price (up previously from $765.00) on shares of Intuit in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $721.61.

Insider Buying and Selling

In other news, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $612.46, for a total value of $4,999,510.98. Following the completion of the sale, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at approximately $13,401,849.72. This trade represents a 27.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $600.00, for a total transaction of $1,021,200.00. Following the transaction, the director now owns 8 shares in the company, valued at $4,800. This represents a 99.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 132,896 shares of company stock valued at $82,946,716 over the last ninety days. 2.68% of the stock is owned by insiders.

Intuit Trading Down 0.6 %

NASDAQ:INTU opened at $614.86 on Thursday. The firm has a market capitalization of $171.89 billion, a P/E ratio of 59.70, a P/E/G ratio of 2.85 and a beta of 1.27. Intuit Inc. has a 52 week low of $553.24 and a 52 week high of $714.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $595.84 and a 200 day moving average of $622.71.

Intuit Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, April 10th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.68%. Intuit’s dividend payout ratio is currently 38.81%.

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.