Dnca Finance Sells 3,300 Shares of Intuit Inc. (NASDAQ:INTU)

Dnca Finance reduced its position in shares of Intuit Inc. (NASDAQ:INTU) by 22.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,100 shares of the software maker’s stock after selling 3,300 shares during the quarter. Dnca Finance’s holdings in Intuit were worth $6,976,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Intuit during the fourth quarter valued at approximately $2,290,419,000. Proficio Capital Partners LLC lifted its position in Intuit by 112,233.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,063,794 shares of the software maker’s stock valued at $668,595,000 after acquiring an additional 1,062,847 shares in the last quarter. Wellington Management Group LLP boosted its stake in Intuit by 13.3% during the 4th quarter. Wellington Management Group LLP now owns 5,296,921 shares of the software maker’s stock valued at $3,329,115,000 after purchasing an additional 620,559 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intuit in the 4th quarter worth $300,854,000. Finally, Vanguard Group Inc. raised its stake in shares of Intuit by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 27,035,316 shares of the software maker’s stock worth $16,991,696,000 after purchasing an additional 353,185 shares during the last quarter. 83.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a report on Monday, March 3rd. Morgan Stanley reduced their price target on shares of Intuit from $730.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday. Oppenheimer lowered their price objective on shares of Intuit from $722.00 to $642.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Redburn Atlantic initiated coverage on shares of Intuit in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, BNP Paribas lowered shares of Intuit from a “neutral” rating to an “underperform” rating and set a $530.00 target price for the company. in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $718.56.

Intuit Stock Down 0.5 %

INTU opened at $585.38 on Friday. Intuit Inc. has a fifty-two week low of $532.65 and a fifty-two week high of $714.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $163.65 billion, a price-to-earnings ratio of 56.83, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The firm’s fifty day moving average is $592.03 and its 200 day moving average is $616.49.

Intuit Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Thursday, April 10th were paid a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Thursday, April 10th. Intuit’s dividend payout ratio (DPR) is 38.81%.

Insider Buying and Selling

In other news, Director Eve B. Burton sold 1,702 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $600.00, for a total value of $1,021,200.00. Following the transaction, the director now owns 8 shares of the company’s stock, valued at approximately $4,800. The trade was a 99.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Laura A. Fennell sold 8,163 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the transaction, the executive vice president now directly owns 21,882 shares of the company’s stock, valued at $13,401,849.72. The trade was a 27.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,696 shares of company stock worth $14,347,731. 2.68% of the stock is owned by corporate insiders.

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.