Bridges Investment Management Inc. Sells 320 Shares of Intuit Inc. (NASDAQ:INTU)

Bridges Investment Management Inc. trimmed its holdings in shares of Intuit Inc. (NASDAQ:INTU) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,507 shares of the software maker’s stock after selling 320 shares during the period. Bridges Investment Management Inc.’s holdings in Intuit were worth $19,802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd bought a new stake in shares of Intuit during the 4th quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Intuit during the fourth quarter worth $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit in the fourth quarter valued at about $28,000. Sugar Maple Asset Management LLC bought a new stake in Intuit in the fourth quarter valued at about $29,000. Finally, Denver PWM LLC acquired a new position in Intuit in the third quarter valued at about $32,000. 83.66% of the stock is owned by institutional investors.

Insider Activity at Intuit

In other Intuit news, CAO Lauren D. Hotz sold 1,078 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $619.28, for a total value of $667,583.84. Following the completion of the transaction, the chief accounting officer now directly owns 1,864 shares in the company, valued at $1,154,337.92. This trade represents a 36.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,014 shares of company stock valued at $140,855,687. 2.68% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INTU has been the subject of several analyst reports. BMO Capital Markets decreased their target price on Intuit from $760.00 to $714.00 and set an “outperform” rating for the company in a research report on Wednesday. Oppenheimer upped their target price on shares of Intuit from $712.00 to $722.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Barclays lowered their price objective on shares of Intuit from $800.00 to $775.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Finally, Scotiabank reduced their target price on Intuit from $700.00 to $600.00 and set a “sector perform” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $717.88.

Intuit Stock Performance

Shares of INTU opened at $613.84 on Friday. The stock has a market capitalization of $171.82 billion, a price-to-earnings ratio of 59.60, a PEG ratio of 2.85 and a beta of 1.24. Intuit Inc. has a 12 month low of $553.24 and a 12 month high of $714.78. The firm has a fifty day simple moving average of $605.90 and a 200 day simple moving average of $627.12. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31.

Intuit Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Thursday, April 10th will be issued a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, April 10th. Intuit’s payout ratio is 38.81%.

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.