Shelton Capital Management Boosts Position in Intuit Inc. (NASDAQ:INTU)

Shelton Capital Management lifted its position in Intuit Inc. (NASDAQ:INTU) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 43,549 shares of the software maker’s stock after purchasing an additional 1,218 shares during the period. Intuit comprises approximately 0.7% of Shelton Capital Management’s holdings, making the stock its 22nd biggest holding. Shelton Capital Management’s holdings in Intuit were worth $27,371,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of INTU. R Squared Ltd purchased a new stake in Intuit in the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its position in shares of Intuit by 72.0% in the fourth quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock worth $27,000 after buying an additional 18 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in Intuit during the fourth quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Intuit during the fourth quarter worth about $28,000. Finally, Summit Securities Group LLC bought a new position in Intuit in the 4th quarter worth about $28,000. 83.66% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. BMO Capital Markets cut their price target on shares of Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. raised shares of Intuit from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $640.00 to $660.00 in a report on Wednesday, March 5th. Morgan Stanley raised shares of Intuit from an “equal weight” rating to an “overweight” rating and set a $730.00 price objective for the company in a report on Wednesday, February 26th. Finally, Citigroup reduced their target price on Intuit from $760.00 to $726.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Intuit presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.00.

Insider Buying and Selling

In other Intuit news, EVP Marianna Tessel sold 7,385 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $600.13, for a total transaction of $4,431,960.05. Following the completion of the transaction, the executive vice president now owns 40,190 shares of the company’s stock, valued at approximately $24,119,224.70. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 8,163 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was 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 in the company, valued at approximately $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,074 shares of company stock valued at $15,829,661 over the last three months. Corporate insiders own 2.68% of the company’s stock.

Intuit Trading Down 0.9 %

NASDAQ INTU opened at $556.24 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. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The stock has a market cap of $155.50 billion, a P/E ratio of 54.00, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The stock has a 50 day simple moving average of $594.64 and a two-hundred day simple moving average of $620.01.

Intuit Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, April 10th. 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.