First Trust Advisors LP Sells 474 Shares of Intuit Inc. (NASDAQ:INTU)

by · The Cerbat Gem

First Trust Advisors LP cut its holdings in shares of Intuit Inc. (NASDAQ:INTU – Free Report) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,300 shares of the software maker’s stock after selling 474 shares during the quarter. First Trust Advisors LP owned approximately 0.12% of Intuit worth $218,907,000 as of its most recent SEC filing.

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

Intuit Trading Down 0.5 %

INTU opened at $585.38 on Friday. 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 stock’s fifty day moving average is $592.03 and its two-hundred day moving average is $616.55. The company has a market capitalization of $163.65 billion, a P/E ratio of 56.83, a PEG ratio of 2.85 and a beta of 1.25. Intuit Inc. has a 52 week low of $532.65 and a 52 week high of $714.78.

Intuit Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Thursday, April 10th were issued a $1.04 dividend. The ex-dividend date was Thursday, April 10th. This represents a $4.16 annualized dividend and a dividend yield of 0.71%. Intuit’s payout ratio is currently 38.81%.

Analyst Upgrades and Downgrades

INTU has been the subject of a number of research reports. StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research report on Monday, March 3rd. Jefferies Financial Group dropped their price objective on shares of Intuit from $800.00 to $735.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Oppenheimer decreased their target price 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. Citigroup dropped their price target on Intuit from $760.00 to $726.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised Intuit from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $640.00 to $660.00 in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $718.56.

Get Our Latest Stock Report on Intuit

Insider Buying and Selling

In other Intuit news, EVP Laura A. Fennell sold 8,163 shares of the company’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $612.46, for a total transaction of $4,999,510.98. Following the completion of the sale, the executive vice president now owns 21,882 shares in the company, valued at $13,401,849.72. This represents a 27.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Scott D. Cook sold 6,446 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $604.26, for a total value of $3,895,059.96. Following the sale, the insider now directly owns 6,219,900 shares in the company, valued at $3,758,436,774. This trade represents a 0.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,696 shares of company stock valued at $14,347,731 over the last three months. 2.68% of the stock is owned by company insiders.

Intuit Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding INTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intuit Inc. (NASDAQ:INTU – Free Report).